TD Ameritrade Buys Thinkorswim to Expand in Options
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TD Ameritrade Holdings Inc., the third-biggest U.S. online brokerage by assets, said it agreed to acquire Thinkorswim Group Inc. for about $606 million to tap into investor interest in the fast-growing options market.
The deal includes $225 million in cash and the issuance of about 28 million shares of TD Ameritrade common stock, the Omaha, Nebraska-based company said today in a statement. TD Ameritrade is paying about $8.71 a share for New York-based Thinkorswim, 54 percent higher than the closing price yesterday.