MONTREAL – Laurentian Bank of Canada says two leading proxy advisory firms recommend that shareholders vote to support the bank’s plan to sell its commercial operations to Fairstone Bank of Canada.
The Montreal-based bank says Institutional Shareholder Services Inc. and Glass Lewis & Co. LLC have both recommended that shareholders support the transaction.
Fairstone Bank has agreed to acquire the commercial banking operations for $1.9 billion or $40.50 per share, while National Bank is buying Laurentian’s retail and small business segment for roughly book value.
The deal is subject to approval by a two-thirds majority vote by Laurentian Bank shareholders.
The bank’s special meeting of shareholders to vote on the transaction is set for Feb. 5.
Stephen Smith, chairman of Fairstone Bank, is one of Glass Lewis’s owners and the chair of its board of directors.
This report by The Canadian Press was first published Jan.26, 2026.
Companies in this story: (TSX:LB)
