Posted on 11/25/2019 9:23:00 AM PST by Vigilanteman
SAN FRANCISCO & OMAHA, Neb.--(BUSINESS WIRE)--The Charles Schwab Corporation (“Schwab”) and TD Ameritrade Holding Corporation (“TD Ameritrade”) today announced that they have entered into a definitive agreement for Schwab to acquire TD Ameritrade in an all-stock transaction valued at approximately $26 billion. Under the agreement, TD Ameritrade stockholders will receive 1.0837 Schwab shares for each TD Ameritrade share, which represents a 17% premium over the 30-day volume weighted average price exchange ratio as of November 20, 2019.
Schwab President and CEO Walt Bettinger said, “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. Together, we share a passion for breaking down barriers for investors and advisors through a combination of low cost, great service and technology. With this transaction, we will capitalize on the unique opportunity to build a firm with the soul of a challenger and the resources of a large financial services institution that will be uniquely positioned to serve the investment, trading and wealth management needs of investors across every phase of their financial journeys.”
(Excerpt) Read more at pressroom.aboutschwab.com ...
More San Fran voters going to Texas is NOT a good development.
Great .... more libs moving to Texas. :-(
I remember when _______ speaks everybody listens ...
Great .... more libs moving to Texas. :-(
Wonder if Greg Abbott can pull an AOC and tell them NO???
re: “Great .... more libs moving to Texas. :-( “
I’m thinking of parking along their drive to work, maybe across from the employee parking lot, and running Texas-centric PSA’s on a large plasma or LED TV screen bolted upright to the roof of my wagon ...
Worse than that, they’re moving into Tarrant County which has almost tipped.
Anti-Trust Laws, what are those?
E. F. Hutton. Down the tubes long ago. Check-kiting scandal, awk-warrrd.
Exactly.... more liberals to change the state.
We’re thankful in Florida we’re NOT getting a bunch of liberals... Still, it’s a good company - maybe the employees won’t be all liberal.
“The parties expect the transaction to close in the second half of 2020, and integration efforts to begin immediately thereafter. “
“The integration of the two firms is expected to take between 18 and 36 months, following the close of the transaction.”
Sounds like no immediate changes in operations.
$26B to escape Californicata? Cheap.
The State now spends 200 B plus a year.
Much of it is ripped from investors and business owners who are watching the state burn like a Hades rubbish pile.
“Schwab was founded in San Francisco and has maintained a longstanding commitment to the Bay Area, which will continue. A small percentage of roles may move from San Francisco to Westlake over time, either through relocation or attrition. The vast majority of San Francisco-based roles, however, are not anticipated to be impacted by this decision. Schwab expects to continue hiring in San Francisco and retain a sizable corporate footprint in the city. “
I wonder what they'll do with Think or Swim ...
I am not a great fan of this development - the first and second largest in a business sector combining - but on the other hand I think the handwriting on the wall was that without the merger one of the giant banks was going to make a hostile bid for one of them.
O still remember the commercials.
Beat me to it. They’ll do anything to turn TX blue.
moving to Texas - check back on their numbers after July and August
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