The Canadian lender Toronto-Dominion Bank agreed on Thursday to buy the parent company of Epoch Investment Partners for $668 million, as it moved to bolster its asset management operations in the United States.
TD will pay $28 a share for the Epoch Holding Corporation. That is 28 percent above Epoch Holding’s closing price on Wednesday.
The acquisition will add about $24 billion in assets to the $207 billion that TD’s asset management arm already oversees.
The bank was advised by Barclays and the law firm Simpson Thacher & Bartlett, while Epoch was advised by Credit Suisse and the law firms Skadden, Arps, Slate, Meagher & Flom and Greenberg Traurig.