TD Bank says in talks over possible extension of First Horizon takeover deadline

TORONTO (Reuters) - Toronto-Dominion Bank believes its planned takeover of First Horizon Corp is unlikely to close by its slated deadline and the company is in talks about a "possible extension," TD's chief executive officer said on Thursday.

"We have opened discussions with First Horizon about a possible extension, and we will update our shareholders when we can," Bharat Masrani, Group President and CEO at the Canadian lender said at the firm's annual general meeting (AGM).

TD is awaiting regulatory approval of the $13.4 billion transaction, which was set to close on May 27, and had previously said it was in discussions with First Horizon to extend the date.

Some shareholders have been urging TD to ditch deal after the collapse of Silicon Valley Bank and Signature Bank last month triggered a crisis of confidence.

(Reporting by Maiya Keidan; Editing by Ismail Shakil)