MutualFundWire.com: E*Trade Ups Ameritrade Bid
MutualFundWire.com
   The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
Monday, June 06, 2005

E*Trade Ups Ameritrade Bid


E*Trade has upped its bid for Ameritrade from $1.5 billion in cash and 47 percent of the combined company, to $2 billion in cash and 49.5 percent, the Wall Street Journal reports.

According to the unnamed sources familiar with the matter, the E*Trade offer includes provisions to allow "significant operations" in Omaha, Nebraska and some continuation of the Ameritrade brand.

Meanwhile, Ameritrade and TD Waterhouse are still in negotiations and may come to an agreement in the upcoming weeks, reports the Journal. The two are considering two deals: in one deal, Ameritrade shareholders would get 67 percent of the new company; in the second deal, Ameritrade shareholders would get a special dividend, but less than 67 percent of the new company.


Printed from: MFWire.com/story.asp?s=9832

Copyright 2005, InvestmentWires, Inc.
All Rights Reserved
Back to Top