Simpson Thacher Reps TD Bank In $6.3B Chrysler Deal

Law360, New York (December 21, 2010, 6:03 PM EST) -- TD Bank NA announced Tuesday it was set to acquire Chrysler Financial from Cerberus Capital Management LP in a cash deal worth $6.3 billion that would position TD as one of the largest automotive lenders in North America.

The deal gives TD a sizable footprint in the $700 billion U.S. auto loan market, the second-largest nonmortgage asset class after credit cards, according to Tim Hockey, the head of Canadian banking and insurance for the company.

"This transaction represents a unique opportunity to purchase a great organic...
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