Charles Schwab to Buy TD Ameritrade for $26 Billion
November 25 2019 - 6:44AM
Dow Jones News
By Colin Kellaher
Charles Schwab Corp. (SCHW) on Monday said it agreed to buy
smaller rival TD Ameritrade Holding Corp. (AMTD) in a stock-swap
transaction valued at about $26 billion.
San Francisco-based Schwab said it will issue 1.0837 shares for
each TD Ameritrade share.
The deal values TD Ameritrade as $52.23 a share, a roughly 8.5%
premium to Friday's closing price for the Omaha, Neb., company.
TD Ameritrade shares rose 2.4% to $49.26 premarket, while shares
of Schwab rose 1% to $48.64.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
November 25, 2019 06:29 ET (11:29 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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