Topic: How To Invest

Spinoffs, Takeovers and Special Situations Hotline – Friday, November 29, 2019

Article Excerpt

TD AMERITRADE HOLDING CORP., $51.83, symbol AMTD on Nasdaq, provides investing services for holders of 12 million client accounts totaling $1.3 trillion in assets. It executes 800,000 trades per day, with 25% from mobile devices. On November 24, Charles Schwab Corporation (symbol SCHW on New York) announced its plans to buy TD Ameritrade for $26 billion in an all-stock deal. If approved, TD Ameritrade shareholders will receive 1.0837 Schwab shares for each share held. Toronto Dominion Bank (symbol TD on Toronto) currently owns 43% of TD Ameritrade. Once the deal is completed it would own 13.4% of Schwab. The combined business will have 24 million clients and more than $5 trillion in assets. Its head office will be located in Westlake, Texas, where Schwab has new offices. In early October 2019, Schwab shook up the discount brokerage industry when it said it would no longer charge commission fees for U.S. stocks and ETFs. Previously it charged a low $4.95 per trade. The changes will…

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