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November 26, 2019

Charles Schwab buys TD Ameritrade

  • The brokerage blockbuster could herald more mergers across the industry.
  • By STAN CHOE
    AP Business Writer

    NEW YORK — Charles Schwab is buying rival TD Ameritrade in a $26 billion stock swap, a blockbuster agreement brought about by massive disruption in the online brokerage industry.

    Bowing to competitive pressure, brokerages have made it free for customers to trade U.S. stocks online. A combination of two of the biggest players in the industry would allow Schwab to save billions of dollars and make up for revenue lost from no longer charging investors such commissions.


     
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