Schwab-TD Ameritrade Deal to Close October 6th, 2020
Follow us on Google news for more updates and News
Charles Schwab Corporation (NYSE: SCHW) is a leading investment services firm with $4.5 trillion in client assets. The two firms combined had a total of $6.1 trillion of client assets in August. TD Bank is selling its 43% interest in TD Ameritrade to Schwab and acquiring 9.9% of Schwab’s voting common and parts of 3.7% non-voting common shares in the transaction.
Schwab President and CEO Walt Bettinger said, “We are very pleased with the Federal Reserve’s actions, which allow us to finalize our planned acquisition of TD Ameritrade. We are now focused on taking the last steps needed to close the transaction so that we can begin the important work of becoming one company and realizing the full potential of this combination on behalf of our clients. “For clients of the two firms, it is business as usual for now. The integration of TD Ameritrade into Schwab is expected to take 18 to 36 months to complete following the close of the transaction. Until then, Schwab and TD Ameritrade will continue to operate as separate broker-dealers, and clients of the two firms can continue to do business with their respective companies as they do today and can expect the same level of great service. More information will be made available to Schwab and TD Ameritrade clients once the transaction closes. Source: Charles Schwab
PLEASE READ THE IMPORTANT DISCLOSURES BELOW.
This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with CWEB Inc, a business. This content and any information contained therein, does not constitute a recommendation by CWEB to buy, sell or hold any security, financial product or instrument referenced in the content. This information neither is, nor should be construed as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. CWEB Inc. does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.
Unless stated otherwise, the web content provided by the CWEB family of companies is for educational purposes only. The information and tools provided neither are, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. or its affiliates. Unless stated otherwise, no information presented constitutes a recommendation by CWEB Inc. or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy.