November 25, 2019 / 11:07 AM / 16 days ago

Charles Schwab to buy TD Ameritrade in $26 billion deal

Nov 25 (Reuters) - Charles Schwab Corp said on Monday it would buy TD Ameritrade Holding Corp in an all-stock deal valued at about $26 billion.

As part of the deal, Ameritrade stockholders will receive 1.0837 Schwab shares for every share held.

The deal, which would combine the two largest U.S. discount brokerages, is expected to close in the second half of 2020. (Reporting by Bharath Manjesh in Bengaluru; Editing by Shounak Dasgupta)

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