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TD Ameritrade jumps as much as 6% after DOJ approves Charles Schwab takeover deal (AMTD, SCHW)

TD AmeritradeREUTERS/Brendan McDermid
  • Charles Schwab, the online broker, has received approval from the Justice Department for its acquisition of TD Ameritrade, CNBC reported Thursday. 
  • TD Ameritrade surged as much as 6% Thursday. Shares of Charles Schwab gained nearly 3% the same day. 
  • Both companies expect the deal to close in the second half of 2020, according to the report. 
  • Watch TD Ameritrade and Charles Schwab trade live on Markets Insider. 
  • Read more on Business Insider.

Shares of TD Ameritrade surged as much as 6% on Thursday after CNBC reported that Charles Schwab, the online brokerage firm, received approval from the Justice Department for its acquisition of the company.
Charles Schwab also gained nearly 3% in intraday trading Thursday. The company announced in November that it agreed to buy TD Ameritrade, a rival brokererage, in a $26 billion all-stock deal. Together, the two companies will create a mega-brokerage with more than $5 trillion in assets — $3.8 trillion from Schwab, and $1.3 trillion from Ameritrade. See the rest of the story at Business Insider
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