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U.S. DoJ Approves Charles Schwab's Acquisition Of TD Ameritrade

Charles Schwab Corp. (SCHW) said the Antitrust Division of the United States Department of Justice has approved the company's proposed acquisition of TD Ameritrade Holding.

Completion of the transaction remains subject to the satisfaction of the customary closing conditions, including receipt of other regulatory approvals and obtaining the necessary approvals from stockholders of both Schwab and TD Ameritrade.

The companies continue to expect that the transaction will close in the second half of the year.

Integration is expected to take between 18 to 36 months to complete following the close.

In November 2019, Charles Schwab agreed to acquire TD Ameritrade Holding in an all-stock deal valued at approximately $26 billion.

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