The Toronto-Dominion Bank today announced the completion of the subsequent offering period relating to its cash tender offer for the publicly-held shares of common stock of TD Waterhouse Group, Inc at a price of US$9.50 per share.

The extension allowed the processing of tenders that had not been completed by the original closing date of 12:00 midnight EST on November 14. The subsequent offering period expired at 12:00 midnight EST, on November 21

Based on preliminary information from the depositary for the offer, TD Waterhouse Group stockholders had tendered and not withdrawn 7,868,324 shares of TD Waterhouse Group common stock (including guaranteed deliveries) during the subsequent offering period.

Combined with shares tendered during the initial offering period, a total of 28,980,772 shares of TD Waterhouse Group common stock were tendered pursuant to the offer.

This brings TD Bank’s and its subsidiaries’ combined common stock ownership in TD Waterhouse Group to approximately 97% of the outstanding shares.

As previously announced, TD Bank will acquire the remaining shares of TD Waterhouse Group common stock through a short-form merger in which all remaining TD Waterhouse Group stockholders who did not tender their shares in the tender offer will receive the same US$9.50 per share in cash paid in the tender offer. Stockholders will receive relevant information in the mail on how to receive payment for their shares. No vote or consent of TD Waterhouse Group stockholders is required for this merger, which is expected to occur before the end of the month.