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May 13, 2005
E*Trade's unsolicited takeover bid for Ameritrade
Posted by Dominic Basulto
Ameritrade may claim that it's not for sale, but that didn't stop rival online broker E*Trade from disclosing an offer that it recently made for the company. A deal between E*Trade and Ameritrade would be a blockbuster, creating a combined company that would have more than 7 million customers generating about 300,000 trades a day and boast total client assets of approximately $170 billion.
According to TheStreet.com, E*Trade's proposal included terms that would give Ameritrade shareholders 47.5% of the combined company, plus about $1.5 billion in cash. Terms of the deal also included joint participation in senior management roles and representation on the board of the combined company.
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