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Charles Schwab in talks to buy smaller rival TD Ameritrade - CNBC

Credit: REUTERS/MIKE BLAKE

Discount brokerage Charles Schwab Corp is in talks to buy smaller rival TD Ameritrade and a deal could be announced as early as Thursday, CNBC reported, citing a source familiar with the matter.

Nov 21 (Reuters) - Discount brokerage Charles Schwab Corp SCHW.N is in talks to buy smaller rival TD Ameritrade AMTD.O and a deal could be announced as early as Thursday, CNBC reported, citing a source familiar with the matter.

Shares of TD Ameritrade rose over 20% to $50.01 before the bell, while shares of Charles Schwab dipped 3% to $43.40. (https://cnb.cx/2qBS3bJ)

Both companies did not immediately respond to Reuters' requests for comment.

(Reporting by Tamara Mathias in Bengaluru; Editing by Maju Samuel)

((Tamara.Mathias@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 806749 1208;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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