Laurentian Nearing a Deal with Guardian

MONTREAL - Laurentian Bank, the seventh-largest Canadian bank, said it was nearing a definitive agreement to acquire Guardian Trust Co. and Guardco Loan Inc. from Guardian Trustco Inc.

Laurentian, a subsidiary of Laurentian Group Corp., said that it expected to complete its due-diligence review of Guardian soon.

Laurentian had earlier signed an agreement in principle to acquire the Guardian units, which have combined assets of $600 million, for $20 million.

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