TD Ameritrade Holding Corp (AMTD.O) can't see obvious merit in buying smaller rival E*Trade Financial (ETFC.O), given the current "optimistic" price and doubts about E*Trade assets, the head of the U.S. online discount brokerage said on Wednesday. Both TD Ameritrade and Charles Schwab Corp (SCHW.N) have been tipped as possible buyers for E*Trade, which agreed in July to review its options, perhaps including putting itself up for sale, at the insistence of its biggest investor, hedge fund Citadel LLC. "We would do any transaction that made strategic and financial sense to us, but we still have not seen that to be obvious given the issues, particularly with respect to their assets," TD Ameritrade CEO Fred Tomczyk said at the Scotia Capital Financials Summit in Toronto. Tomczyk said E*Trade stock tends to trade as a takeover target, making it pricier.
TD Ameritrade Holding Corporation (TD Ameritrade) is a provider of securities brokerage services and technology-based financial services to retail investors, traders and independent registered investment advisors (RIAs). Shares of AMTD traded higher by 4.01% or $0.56/share to $14.54. In the past year, the shares have traded as low as $13.69 and as high as $22.90. On average, 5827340 shares of AMTD exchange hands on a given day and today's volume is recorded at 3388238.
E*TRADE Financial Corporation (E*TRADE) is a financial services company, which provides online brokerage and related products and services to the individual retail investors, under the brand E*TRADE Financial. Shares of ETFC traded higher by 3.4% or $0.38/share to $11.57. In the past year, the shares have traded as low as $9.90 and as high as $18.13. On average, 7493510 shares of ETFC exchange hands on a given day and today's volume is recorded at 5670243.
The Charles Schwab Corporation (CSC) is a savings and loan holding company. Shares of SCHW traded higher by 4.06% or $0.46/share to $11.79. In the past year, the shares have traded as low as $11.11 and as high as $19.69. On average, 18361900 shares of SCHW exchange hands on a given day and today's volume is recorded at 5437802.
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