COMPUTER TASK:
- On a blank screen, click on Text Box on the Drawing toolbar.
- Click where you want the text box to appear on your screen.
- Insert one advantage / disadvantage of the TD Bank takeover. Move/Resize the text box as needed.
- Repeat steps 1 through 3 for every advantage/disadvantage.
- Follow instructions to apply line style, colour and fill options to the text boxes.
TD Takeover of Canada Trust Gets Chilly Reception
Tuesday August 3
TORONTO (AP) � The TD Bank�s proposed $8 billion takeover of Canada Trust to create the country�s third-largest bank met a cool reception today from both Canadians and the stock market.
The combined institution, to be known as TD Canada Trust, would have 10 million customers across the country.
But many of Canada Trust�s customers are very angry. They have been using the trust company because it is smaller. They prefer not to do business with a large bank.
Employees of both banks are worried. The bank has said that almost 5,000 jobs will be lost because of the merger. About 275 branches will also close.
Other groups spoke out against the deal. The Canadian Federation of Independent Business
said they are very concerned about the fact that there will be less competition.
The stock market was also unenthusiastic about the expensive takeover. TD Bank shares fell $1 to 28.80 on the Toronto Stock Exchange.
