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Thursday, March 31, 2011

National Bank in talks to purchase Wellington West-paper, (TSE: NA)

National Bank of Canada (NA.TO) is once again in talks to buy out the 83 percent of wealth manager Wellington West Holdings that it does not already own, the Globe and Mail newspaper said on Thursday. National, Canada's No. 6 bank, bought an initial 12.5 percent stake in Wellington West in 2008, and has since added to its holding. According to unnamed sources quoted by the newspaper, the two sides are in advanced discussions for a deal that would value the Wellington West at more than C$350 million ($360 million).

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