Schwab Closes on TD Ameritrade Acquisition

Charles Schwab (NYSE: SCHW) completed its $22 billion all-stock acquisition of one of its major competitors, TD Ameritrade, on Oct. 6, creating one of the largest brokerage firms in the world.

The combined company will have a total of $6 trillion in client assets, 28 million brokerage accounts, and more than 5 million daily average trades. TD Ameritrade is bringing about $1.3 trillion in client assets and 12 million client accounts.

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Source Fool.com