TD to acquire Scottrade for $4 Bln

Read Time: 1 minutes

TD Ameritrade Holding Corp. and its largest stakeholder, Toronto-Dominion Bank, are nearing a deal to buy online brokerage Scottrade Financial Services Inc. for $4 billion, according to people with knowledge of the matter.

TD Ameritrade would acquire Scottrade’s brokerage operations for about $2.7 billion in cash and stock, while Toronto-Dominion would purchase Scottrade’s banking operations for $1.3 billion in cash, the people said, asking not to be identified because the talks aren’t public. The takeover may be announced as soon as Monday before markets open in North America, the people said.

Google Ads

Be the first to comment

Leave a Reply

Your email address will not be published.


*