![National Bank CWB buy: Competition Bureau grants clearance [Video]](https://smallbizsage.com/wp-content/uploads/2024/09/mp_315369_0_nationalbankofcanada170527901727357350159jpg.jpg)
National Bank of Canada says it has cleared a key regulatory hurdle in its proposed acquisition of Canadian Western Bank.
The Montreal-based bank says it has received the Competition Bureau’s clearance for the deal.
The transaction still requires approval by the Office of the Superintendent of Financial Institutions and the minister of finance.
Canadian Western shareholders voted to approve the deal earlier this month.
National Bank announced an all-stock deal to buy Canadian Western earlier this year in a proposal that valued the Edmonton-based bank at about $5 billion.
It has said its acquisition of Canadian Western will significantly expand its western footprint and create a stronger national competitor.
This report by The Canadian Press was first published Sept. 26, 2024.
![California child confirmed as first bird flu case in a child in US [Video]](https://smallbizsage.com/wp-content/uploads/2024/11/mp_335968_0_https3A2F2Fdo0bihdskp9dycloudfrontnet2F112220242Ft5c9e70c431a74797b7ec5d146355b46fname64db3d93b24c463fa648bb5a286e2c25scaledjpg.jpg)
![Watch CNBC’s full interview with U.S. Secretary of Commerce Gina Raimondo [Video]](https://smallbizsage.com/wp-content/uploads/2024/11/mp_335911_0_1080671616ED1REQ112224GinaRaimondojpg.jpg)
![OpenYield Secures New Funding to Transform the Bond Market | PR Newswire [Video]](https://smallbizsage.com/wp-content/uploads/2024/11/mp_335403_0_6605644ce171fimagejpg.jpg)
![MPOWER Financing Ranked Among North America’s Fastest-Growing Companies on the 2024 Deloitte Technology Fast 500 | PR Newswire [Video]](https://smallbizsage.com/wp-content/uploads/2024/11/mp_335406_0_673f3a42d2c34imagejpg.jpg)