TD Bank, a Canadian multinational banking and financial services, agreed to acquire First Horizon, a bank holding company, for $13.4bn. "Under the terms of the termination agreement, TD will make a $200m cash payment to First Horizon. This payment is in addition to the $25m fee reimbursement due to First Horizon pursuant to the merger agreement. The shares of First Horizon Series G Preferred Stock that TD Bank purchased will continue to reflect a conversion price of $25 per share. Neither party will pay any other fees or have any other liabilities to each other related to the merger agreement," First Horizon.