BREAKING: Charles Schwab is buying rival TD Ameritrade for $26 billion, a blockbuster deal accelerated by massive disruption in the online brokerage industry.
FILE - In this Nov. 20, 2018 file photo, a U.S. flag flies outside New York Stock Exchange. Stocks fell in early trading on Wall Street Thursday, Nov. 21, 2019, as investors worry that the U.S. and China will fail to make a trade deal before the year is over.
The tie-up creates a company so big, however, that it may draw sharp scrutiny from antitrust regulators. The combined company would have more than $5 trillion in client assets under management. The rewards for passing regulatory muster would be lucrative: A combined company “makes strong strategic sense,” would be able to cut costs and could bump up Schwab’s earnings per share by more than 25% over the long term, Voigt said.Schwab sent shockwaves through the industry less than two months ago when it said it would do away with commissions for online trading of U.S. stocks and exchange-traded funds, fees that have long fueled the industry.
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