TD Ameritrade Buys Thinkorswim
June 12, 2009 (FinancialWire) — TD Ameritrade Holding Corp. (NASDAQ: AMTD) has closed its acquisition of online broker thinkorswim Group Inc. Under the deal, New York-based thinkorswim stockholders will receive $3.34 in cash and 0.3980 of a share of TD Ameritrade common stock for each share of thinkorswim common stock.
Thinkorswim stock ceased trading on The NASDAQ Stock Market as of the June 11 market close.
TD Ameritrade said that, after considering the impact of its recently completed stock buy-back program, the acquisition was effectively financed with cash. The company said it expects little to no impact to its fiscal 2009 earnings, with 3% to 7% accretion expected in fiscal 2010 and 7% to 10% in fiscal 2011.
Omaha-based TD Ameritrade, through its brokerage subsidiaries, offers trading technology, investment tools and services, investor education and client service.
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