Investing

Charles Schwab shares jump after DOJ reportedly OKs TD Ameritrade deal

0


Online broker Charles Schwab received antitrust approval from the Justice Department for its acquisition of TD Ameritrade, sources told CNBC’s David Faber on Thursday.

Shares of Schwab gained 5.5% and TD Ameritrade jumped 9%. 

Schwab announced last November it would buy rival broker TD Ameritrade in the all-stock deal valued at $26 billion. The merging of the two biggest publicly traded discount brokers will create a mammoth with more than $5 trillion in client assets, $3.8 trillion from Schwab and $1.3 trillion from TD Ameritrade.

The acquisition calls for 1.0837 Schwab shares for each shares of TD Ameritrade, sources said. The companies expect the deal to close in the second half of…



Source cnbc.com

May’s shocking jobs gains show economy bouncing back

Previous article

Brooks Brothers seeks potential bankruptcy financing amid sale process

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Investing