TD delays merger with First Horizon; both remain committed

TD Bank Group and and First Horizon Corp. on Friday said they are extending the closing of their planned merger to May 27.

The two financial institutions originally had set a date for their proposed transaction of Feb. 27, but delayed it a quarter as they continue to plan for the closing and the integration of the companies.

TD and First Horizon both said they are fully committed to the merger.

Shareholders of First Horizon have voted overwhelmingly to approve the transaction, and progress is being made on a Community Benefits Plan in support of local communities across the TD and First Horizon footprints in the U.S.