One of Canada’s oldest banks, the Laurentian Bank of Canada, has announced a strategic review and might be headed for a sale.
In a news release sent out late on July 11, the bank said, “Laurentian Bank announced today that its board of directors and management team are conducting a review of strategic options to maximize shareholder and stakeholder value.”
Both the Globe and Mail and La Presse reported that the bank has hired JPMorgan Chase and Co. to approach potential buyers.
It’s the latest twist in a process that has seen the bank embark on a process of renewal lasting several years….