Charles Schwab is acquiring TD Ameritrade for $26 billion, the online brokerage companies announced this morning. Under the agreement, TD Ameritrade stockholders will receive 1.0837 Schwab shares for every TD Ameritrade share, a 17% premium over the 30-day volume weighted average price exchange ratio.
“We have long respected TD Ameritrade since our early days pioneering the discount brokerage industry, and as a fellow advocate for investors and independent investment advisors,” said Charles Schwab CEO Walt Bettinger in a statement.
“With
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in