EQB Inc. and Loblaw Companies Limited have agreed to a deal where EQB will acquire President’s Choice Bank and other entities for an estimated $800 million. This acquisition will make EQB the exclusive financial partner of the PC Optimum loyalty program. Loblaw will receive $1.3 billion in total value, including $500 million in excess capital. The deal is expected to be finalized in 2026 and will be financed through a combination of cash and stock. The transaction is projected to boost earnings per share and enhance return on equity. Additionally, there are provisions in place for Loblaw to exit the deal if certain events occur.

Read more at Nasdaq: EQB To Acquire PC Financial And Partner With Loblaw On PC Optimum Program