Scottrade Is Latest St. Louis Company To Be Sold
(Town and Country, MO) — TD Ameritrade is buying St. Louis County-based Scottrade in a 4-billion dollar cash-and-stock deal. It’s expected to take nine-to-12 months to complete the process and get all the federal approvals needed. TD Bank Group will buy Scottrade Bank for 1.3-billion dollars in cash. Scottrade will then buy 11-million shares from T-D Ameritrade for 400-million dollars. At that point, TD Ameritrade will buy Scottrade Financial Services for 4-billion dollars. The two will continue to operate as separate companies until the transaction is complete.
Posted on October 26, 2016, in News. Bookmark the permalink. Comments Off on Scottrade Is Latest St. Louis Company To Be Sold.