Retail broker TD Ameritrade buys Scottrade in $4 billion deal
In October 2016, TD Ameritrade announced a massive deal to acquire its rival, Scottrade Financial Services. This "helpful story" explains what happened during that merger and where those accounts are today. The Acquisition (2016–2017) td ameritrade buys scottrade
: The deal was split into two parts: TD Bank Group bought Scottrade Bank for $1.4 billion , while TD Ameritrade acquired the brokerage operations for $2.7 billion in cash and stock. Retail broker TD Ameritrade buys Scottrade in $4
: For several months after the close, Scottrade operated as a separate entity to ensure a "seamless transition" for its clients. td ameritrade buys scottrade
: In February 2018 , Scottrade accounts were automatically migrated to the TD Ameritrade platform.