Ameritrade to Discuss Pursuit of E*Trade

July 25, 2011 at 12:00 am PT

TD Ameritrade Holding Corp.’s directors plan to discuss at a meeting Tuesday the possibility of trying to acquire rival online-brokerage firm E*Trade Financial Corp., according to people familiar with the situation.

The board meeting was already scheduled when hedge-fund firm Citadel LLC, E*Trade’s biggest shareholder, prodded the company last week to explore selling itself.

The expected talks don’t necessarily mean that TD Ameritrade will make an offer for E*Trade. The New York company had a stock-market value of $4.4 billion on Friday.

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Tagged with: acquisition, Citadel LLC, E*Trade, Gina Chon, Jenny Strasburg, TD Ameritrade, The Wall Street Journal

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