National Bank buys Western Canada rival in US$3.6 billion deal

8m ago National Bank to buy Western Canada rival for US$3.6 billion Bloomberg News, Canadian banks are cheap for a reason: Leith National Bank of Canada agreed to buy Canadian Western Bank for about $5 billion (US$3.6 billion) in stock in a tie-up of two of the country’s regional lenders. Montreal-based National will pay the equivalent of $52.24 a share for CWB, a premium of 110 per cent over the target’s closing price on Tuesday. The deal requires the approval …