Charles Schwab to Reportedly
Purchase TD Ameritrade .
On Nov. 21, numerous sites reported that
Charles Schwab is in talks to buy TD Ameritrade.
The deal would reportedly
be worth $26 billion. .
It would also occur merely one month after
both companies announced their plans to
eliminate commissions for online trading. .
TD Ameritrade CEO Tim Hockey
initially hinted at the possible
selling of the company in an
interview with CNN last month. .
During the interview, Hockey said TD Ameritrade would
“always take a look at something that makes strategic sense.”.
The merging of these two financial
service companies would reportedly create
more than $5 billion in combined assets. .
According to the CEO of
Apex Clearing, Bill Capuzzi,
the merger was “inevitable.” .
On the heels of all the zero-commission
announcements, this was the inevitable next
shoe to drop. A merger would make a lot of sense, Bill Capuzzi, to CNN.
As of Thursday afternoon, shares of both Charles Schwab and TD Ameritrade were up 8 percent and 20 percent, respectively.