May 31, 2018 / 8:47 PM / 20 days ago

Scotiabank to buy MD Financial for C$2.59 bln

May 31 (Reuters) - Bank of Nova Scotia said on Thursday it would buy MD Financial Management, a Canadaian insurance provider to physicians and their families, in a C$2.59 billion ($2.00 billion) all-cash deal.

The deal is expected to be partly financed by a public offering of 19.7 million common shares at C$76.15 per share on a bought-deal basis for gross proceeds of C$1.50 billion. ($1 = C$1.30) (Reporting by Taenaz Shakir in Bengaluru; Editing by Maju Samuel)

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