Canadian firms Torys and McCarthy Tétrault, along with U.S.-based Mayer Brown, have lead advisory roles in National Bank of Canada’s deal to acquire Canadian Western Bank. The deal is valued at CA$5 billion (US$3.6 billion). 

It’s the latest in what some economists see as further consolidation of Canada’s banking sector. National Bank’s bid to buy CWB comes just months after Royal Bank of Canada completed its acquisition of HSBC Bank of Canada.