RBC Buys RBTT

BMO Capital Markets, 3 October 2007As expected, on October 2 Royal Bank announced an agreement to acquire 100% of Royal Bank of Trinidad and Tobago (RBTT), in a deal worth US$2.2 billion. We had speculated on a deal in a research comment released in the morning of October 2 and don't intend to repeat that comment verbatim. Everything was largely as advertised: TT$40 per RBTT share (or US$6.33)