Charles Schwab Corp agreed on Monday to buy TD Ameritrade Holding Corp in an all...
) in an all-stock deal valued at $26 billion, creating a brokerage giant in a market that has been ravaged by price wars.
The discount brokerage business is facing strong headwinds from new, nimbler startups that are gaining market share by eliminating commissions on stock trades. While the deal could give Schwab an edge in the price war, analysts said the merger would probably attract regulatory attention, but should still be approved.
The deal is expected to add 10%-15% to earnings per share under U.S. accounting rules in the third year following the close of the deal, the companies said.
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Charles Schwab to buy TD Ameritrade in a $26 billion all-stock dealThe merging of the two biggest publicly traded discount brokers will create a mammoth with more than $5 trillion in client assets.
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It's official: Charles Schwab strikes $26 billion deal to buy TD AmeritradeTogether, the two discount brokerages will boast 24 million customer accounts and handle more than $5 trillion in client assets.
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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.
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Charles Schwab buys TD Ameritrade in brokerage blockbusterNEW YORK (AP) — Charles Schwab is buying rival TD Ameritrade in an approximately $26 billion all-stock deal, a blockbuster agreement accelerated by massive disruption in the online brokerage...
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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%.
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