Thinkorswim’s chairman and chief executive, Lee Barba, will stay through the transition, while co-founders Tom Sosnoff and Scott Sheridan will join TD Ameritrade. 398 TD Ameritrade shares for each thinkorswim share. After the deal’s closing, in the next six months, TD Ameritrade will start a buyback of 28 million shares.Īs part of the deal, TD Ameritrade will pay about $225 million in cash and issue 28 million new shares to thinkorswim shareholders, which amounts to $3.34 in cash and. The company has about 87,000 funded retail brokerage accounts and $3 billion
Thinkorswim earned $87 million in pretax income on $380 million in revenue for the 12 months ending Sept. The deal will bring together TD Ameritrade, whose focus historically has been on stock trading, with thinkorswim, a smaller competitor but one that focuses on options trading. TD Ameritrade said Thursday that it was buying thinkorswim for about $606 million in cash and stock, solidifying TD Ameritrade’s standing as one of the largest online brokerage
