Why TD Ameritrade Stock Jumped 35% in November
Shares of TD Ameritrade (NASDAQ: AMTD) gained 35% in value last month, according to data provided by S&P Global Market Intelligence.
The shares surged higher on the news that Charles Schwab (NYSE: SCHW) had reached an agreement to acquire TD Ameritrade in an all-stock deal valued at $26 billion. It's a big deal, and not just in dollar terms. The combination of two of the most popular full-service brokers could create an enormous advantage for both companies.
Under the terms of the deal, TD Ameritrade shareholders will receive 1.0837 shares of Schwab for each share of TD Ameritrade. The deal is expected to close in the second half of 2020.
Source Fool.com
