Charles Schwab Acquires TD Ameritrade in $26 Billion All-Stocks Deal

: Charles Schwab has confirmed it will acquire TD Ameritrade in an all-stock agreement worth $26 billion, creating an online giant in the retail brokerage industry that has been squeezed by a price war.by Schwab on Monday, means that TD Ameritrade stockholders will receive 1.0837 Schwab shares for each Ameritrade share.

Charles Schwab will manage $5 trillion of client assets after the deal completes in mid-2020. It will lower costs and broaden customers options, according to Schwab CEO, Walt Bettinger. Schwab’s market value stands at $57.5 billion, while Ameritrade is valued at $22.4 billion. Some 24 million customers will be served by the merged company.

Bettinger said of the merger in a statement: “Together, we share a passion for breaking down barriers for investors and advisors through a combination of low cost, great service and technology." TD Ameritrade CEO Tim Hockey will step down in February and on Monday, TD Ameritrade confirmed it would be suspending its CEO search. It named its chief financial officer Stephen Boyle, as interim CEO.: The merger comes after a dramatic turning point in a price war between brokerages vying to manage the assets of retail investors.

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Charles Schwab to acquire TD Ameritrade in $26 billion all-stock dealThe Charles Schwab Corp. will acquire rival discount broker TD Ameritrade Holding Corp. in an all-stock transaction valued at around $26 billion, the companies announced Monday. News of a prospective deal broke last week. The agreement between the companies would see TD Ameritrade stockholders receive 1.0837 Schwab shares for each TD Ameritrade share, representing a 17% premium over the 30-day volume weighted average price exchange ratio as of Nov. 29. The combined company would serve 24 million client accounts with more than $5 trillion in client assets, the companies said. Schwab shares were off 0.4% in premarket trade, while TD Ameritrade shares were up 1.6%. Td, is the best ! Schwab old school I hope that Schwab Continues TD great work on their platform
Source: MarketWatch - 🏆 3. / 97 Read more »

Charles Schwab agrees to buy TD Ameritrade for $26 billionTwo of the leaders of the online brokerage industry are merging. Charles Schwab agreed to buy TD Ameritrade for $26 billion, the companies announced Monday. So? 🥱 Haha come on Must be nice to have that kind of money to throw around.
Source: CNN - 🏆 4. / 95 Read more »