TD Bank's Clark says acquisition is a "unique opportunity"

12/22/2010 | Toronto Sun

TD Bank Group is acquiring Chrysler Financial from Cerberus Capital Management in a $6.3 billion deal. The move is a shot in the arm to the bank's auto-financing division. "This transaction represents a unique opportunity to purchase a great organic growth platform at an attractive price," said Ed Clark, president and CEO at TD Bank. "This acquisition will allow us to leverage our lending expertise and financial strength to expand our presence in a large North American market with tremendous potential upside," he added.

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