National Bank seeks pill approval

Article Abstract:

The National Bank of Canada is seeking approval from its shareholders for a poison pill which would defend against takeover bids. The Montreal -based bank, sixth largest in Canada, is proposing a plan which would flood the market with additional shares in the case of an unsolicited offer. this action would make it prohibitively expensive for the bidder to proceed.

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National CEO resolute on merger plans

Article Abstract:

Andre Berard, chairman and CEO of the National Bank of Canada, announced he will resist opposition to any deal with partners outside of Quebec. He also said that any merger will have to have "iron-clad" commitments to keep the head office in Montreal and keep a strong presence throughout Quebec.

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National Bank posts 7% profit increase in 4th quarter

Article Abstract:

National Bank of Canada posted a 7% increase in profit for the fourth quarter, which was hurt slightly by the discovery of a $7 million client fraud at its retail brokerage. The final profit for the three months ended Oct. 31 was $142.2 million.

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