TD Bank Financial Group announced late yesterday that its offer to acquire all of the common shares of VFC Inc., and VFC’s accompanying directors’ circular, have been mailed to VFC shareholders.

Subject to all necessary approvals, TD is offering to acquire all of the common shares of VFC at $19.50 per share in cash, or the equivalent of $19.45 of TD common shares and 5¢ in cash for each VFC common share.

VFC shareholders will have the right to elect to receive all cash, primarily TD shares or a combination of cash and TD shares.

The VFC board of directors is unanimously recommending that VFC shareholders tender their shares to the TD offer.

The offer is open for acceptance until 9:00 p.m., Toronto time, on April 18.