US brokerage firm Charles Schwab acquires rival TD Ameritrade for USD 26 bln

New york, Nov 25 (AFP) The US brokerage firm Charles Schwab announced Monday it will acquire rival TD Ameritrade for around USD 26 billion. Under the all-stock acquisition, TD Ameritrade shareholders will receive 1.0837 shares of Charles Schwab for each share they own, the latter said in a statement.

The boards of both brokerages approved the terms of the deal unanimously. US regulators must still rule on it. (AFP) IND