Two of the largest discount brokers, TD Ameritrade Holding
Corp. and E*Trade Financial Corp., are reportedly in talks about merging,
according
to The Wall Street Journal. The combined company would have 11 million
customers making it larger than current market leader Charles Schwab Corp. —
assuming the rumors are true. The New York Times' Dealbook editor Andrew Ross
Sorkin personally opined with skepticism on the report. One of the big
problems to closing a deal is Ameritrade's parent, Canadian Toronto-Dominion
Bank, which would likely want to keep a controling stake along with branding —
issues that may not be palatable to E*Trade. Meanwhile, the Journal's M&A
blog Deal Journal took a somewhat tongue-in-cheek angle examining the branding
issue should they consumate a deal. And yes, Deal Journal made the obvious
quips about ET, the extraterrestrial. —Matthew Wurtzel
See story from The Wall Street Journal
See post from Deal Journal
See post from Dealbook
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