Royal Bank of Canada in its CAD$13.5 billion acquisition of HSBC Bank Canada

On November 29, 2022, Royal Bank of Canada, a global financial institution and Canada’s largest bank by market capitalization, announced that it has entered into an agreement to acquire HSBC Bank Canada, a premier Canadian personal and commercial bank focused on globally connected clients, for an all-cash purchase price of $CAD 13.5 billion.  The acquisition is the second largest bank transaction globally in 2022 and the largest ever bank transaction in Canada, to date.

Wachtell, Lipton, Rosen & Katz served as legal advisor to RBC.