Toronto-Dominion Bank/TD Ameritrade $4 billion acquisition of Scottrade Financial Services

Overview:

• Toronto-Dominion Bank and TD Ameritrade have completed their $4 billion acquisition of two separate parts of Scottrade Financial Services.
• Largest TD shareholder Toronto-Dominion Bank purchased Scottrade Bank for $1.3 billion, while TD spent $2.7 billion to acquire Scottrade's brokerage business.
• The $1.3 billion price tag for Scottrade Bank was paid in cash considerations, and the remaining $2.7 billion was paid with a combination of new common equity and cash.
• Toronto-Dominion bank is based in Toronto, and TD Ameritrade is based in Omaha, Nebraska.
• Goldman Sachs was Scottrade's financial adviser and Barclays Capital acted for TD Ameritrade.
• The deal was first announced in October 2016.

Kurt Stumpo - Journalist