TD Ameritrade to Acquire Scottrade

Online securities behemoth TD Ameritrade (NASDAQ: AMTD) said Monday it will acquire privately held Scottrade in a cash-and-stock transaction valued at $4 billion. The deal will be completed in a two-step process. First, TD Ameritrade’s Bank group — a wholly owned subsidiary of Canada-based Toronto-Dominion Bank (NYSE: TD) — will pay $1.3 billion in cash to buy Scottrade Bank from Scottrade Financial Services, and merge it with TD Bank. …read more

Read more here: TD Ameritrade to Acquire Scottrade

Category: AMTD, TD

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