Charles Schwab Corp. will buy TD Ameritrade Holding Corp. in a deal worth $26 billion, the two firms announced Monday morning.
In a statement announcing the all-stock transaction, Charles Schwab President Walt Bettinger stated that “we will capitalize on the unique opportunity to build a firm with the soul of a challenger and the resources of a large financial services institution that will be uniquely positioned to serve the investment, trading and wealth management needs of investors across every phase of their financial journeys.”
