TD Ameritrade Holding Corp. said it arranged to acquire online brokerage Thinkorswim for approximately $606 million in cash and stock deal. Terms: each allocate of SWIM will be exchanged for $3.34 in money and 0.3980 of AMTD share.
The deal comes as Ameritrade, which has seen fierce trading activity, copes with declining asset levels and Federal Reserve interest charge cuts that are estimated to design challenges for the company. Observers plan industry declines into next year as investors sprain back from weak equity markets.
Thinkorswim had $380 million in revenue and $87 million in pretax returns for the year ended Sept. 30.
Thursday, January 8, 2009
TD Ameritrade Acquire Thinkorswim
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