HSBC’s Canada unit loses National Bank, CIBC as bidders, Global and Mail reports

Oct 30 (Reuters) – National Bank of Canada (NA.TO) and Canadian Imperial Bank of Commerce (CIBC) (CM.TO) have dropped out as bidders for HSBC Holdings PLC’s (HSBA.L) business in Canada, while Bank of Montreal (BMO.TO) is still pursuing the deal, according to a report in The Globe and Mail newspaper.HSBC disclosed on Oct. 4 that it was considering selling HSBC Bank Canada, a unit that analysts estimate to be valued at around C$8 billion ($5.88 billion) to C$10 billion ($7.35 billion).The Globe and Mail, in its report on Friday, quoted sources familiar with the process as saying that …
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