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(Reuters) – Charles Schwab Corp (N:) said on Monday it would buy TD Ameritrade Holding Corp (O:) in an all-stock deal valued at about $26 billion.
As part of the deal, Ameritrade stockholders will receive 1.0837 Schwab shares for every share held.
The deal, which would combine the two largest U.S. discount brokerages, is expected to close in the second half of 2020.
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