BREAKING: Charles Schwab is buying rival TD Ameritrade for $26 billion, a blockbuster deal accelerated by massive disruption in the online brokerage industry.
FILE - In this Nov. 20, 2018 file photo, a U.S. flag flies outside New York Stock Exchange. Stocks fell in early trading on Wall Street Thursday, Nov. 21, 2019, as investors worry that the U.S. and China will fail to make a trade deal before the year is over.
The tie-up creates a company so big, however, that it may draw sharp scrutiny from antitrust regulators. The combined company would have more than $5 trillion in client assets under management. The rewards for passing regulatory muster would be lucrative: A combined company “makes strong strategic sense,” would be able to cut costs and could bump up Schwab’s earnings per share by more than 25% over the long term, Voigt said.Schwab sent shockwaves through the industry less than two months ago when it said it would do away with commissions for online trading of U.S. stocks and exchange-traded funds, fees that have long fueled the industry.
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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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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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Investment Advisers Fear Losing Out in a Schwab-TD Ameritrade DealSchwab’s plan to buy TD Ameritrade isn’t sitting well with investment advisers who park their clients’ money with the big online brokerages.
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Charles Schwab Corp.SCHW | Complete Charles Schwab Corp. stock news by MarketWatch. View real-time stock prices and stock quotes for a full financial overview.
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Investment Advisers Fear Losing Out in a Schwab-TD Ameritrade DealSchwab’s plan to buy TD Ameritrade isn’t sitting well with investment advisers who park their clients’ money with the big online brokerages.
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