The combined deal was valued at approximately $4 billion . Two-Part Structure:
TD Ameritrade acquired the brokerage business for roughly $1.7 billion in cash plus 28 million shares of TD Ameritrade common stock. did td ameritrade buy scottrade
TD Bank Group acquired Scottrade’s banking division, Scottrade Bank , for roughly $1.4 billion in cash. The combined deal was valued at approximately $4 billion
The merger was originally announced in October 2016 and officially closed on September 18, 2017 . Impact on Customers and Operations TD Ameritrade, Inc. is now at Schwab Inc. is now at Schwab