TD Banknorth Approves TD Bank's Bid for Stake

Bloomberg, Sean B. Pasternak and Doug Alexander, 18 April 2007TD Banknorth Inc. shareholders approved a $3.2 billion bid from Toronto-Dominion Bank for the 40.2 percent stake that Canada's second-largest bank doesn't already own.About 94 percent of TD Banknorth shareholders, excluding Toronto-Dominion, voted in favor of the $32.33-a-share cash offer at a meeting today in Portland,