M&A Deal Summary

Charles Schwab Acquires TD Ameritrade Holding

On November 25, 2019, Charles Schwab acquired financial services company TD Ameritrade Holding for 26.0B USD

Acquisition Highlights
  • This is Charles Schwab’s 10th transaction in the Financial Services sector.
  • This is Charles Schwab’s largest (disclosed) transaction.
  • This is Charles Schwab’s 11th transaction in the United States.
  • This is Charles Schwab’s 1st transaction in Nebraska.

M&A Deal Summary
Date 2019-11-25
Target TD Ameritrade Holding
Sector Financial Services
Buyer(s) Charles Schwab
Deal Type Add-on Acquisition
Deal Value 26.0B USD
Advisor(s) PJT Partners, Inc.
Sandler O'Neill + Partners LP (Financial)
Wachtell, Lipton, Rosen & Katz (Legal)

Target

TD Ameritrade Holding

Omaha, Nebraska, United States
website
TD Ameritrade's corporate headquarters in Omaha, Nebraska.
TD Ameritrade's corporate headquarters in Omaha, Nebraska.
TD Ameritrade Holding Corp. is a provider of securities brokerage services and related technology-based financial services to retail investors, traders and independent registered investment advisors. TD Ameritrade provides its services predominantly through the Internet, a national branch network and relationships with RIAs. TD Ameritrade was established in 1971 and is based in Omaha, Nebraska.

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Buyer(S) 1

Buyer

Charles Schwab

Westlake, Texas, United States

website

Category Company
Founded 1971
Sector Financial Services
Employees32,000
Revenue 20.8B USD (2022)
DESCRIPTION
Charles Schwab's corporate headquarters in downtown San Francisco, California.
Charles Schwab's corporate headquarters in downtown San Francisco, California.

Charles Schwab engages in securities brokerage, banking, money management, and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments, Investor Services and Institutional Services. The Investor Services segment provides retail brokerage and banking services to individual investors. The Institutional Services segment provides custodial, trading, and support services to independent investment advisors. The Institutional Services segment also provides retirement plan services, specialty brokerage services, and mutual fund clearing services. Charles Schwab was founded in 1971 and is based in Westlake, Texas.

DEAL STATS #
Overall 11 of 13
Sector (Financial Services) 10 of 11
Type (Add-on Acquisition) 8 of 10
State (Nebraska) 1 of 1
Country (United States) 11 of 13
Year (2019) 2 of 2
Size (of disclosed) 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-25 United Services Automobile Association - Investment Management Company

San Antonio, Texas, United States

United Services Automobile Association - Investment Management Company offers financial advice and a wide range of investment products and services to meet members' needs at every stage of life and consistently earns the highest ratings from independent agencies and research organizations for its investment performance and exceptional level of customer service.

Buy $1.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-24 Wasmer Schroeder

Naples, Florida, United States

Wasmer, Schroeder & Co., LLC provides a comprehensive lineup of tax-exempt and taxable strategies with strong risk-adjusted performance track records, and a tenured team of investment professionals with deep fixed income expertise. Wasmer, Schroeder was established in 1987 and is based in Naples, Florida.

Buy -
Mergr

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