June 12, 2009 - 10:06am
TD AMERITRADE Holding Corporation has completed the acquisition of thinkorswim Group Inc. Under the terms of their Agreement and Plan of Merger dated Jan. 8, 2009, thinkorswim stockholders will receive $3.34 in cash and 0.3980 of a share of TD AMERITRADE common stock for each share of thinkorswim common stock.
After considering the impact of TD AMERITRADE’s recently completed stock buy-back program, the acquisition was effectively financed with cash. The Company expects little to no impact to its fiscal 2009 earnings, with 3-7% accretion expected in fiscal 2010 and 7-10% in fiscal 2011.
“The advancement of our trading strategy, made possible by this acquisition, will yield numerous benefits for our clients, shareholders and associates,” said Fred Tomczyk, president and chief executive officer. “We have solidified our industry leadership position in trading and will use thinkorswim’s outstanding trading and educational capabilities to further strengthen our competitive position. Clients are anxious to use new tools and services, and we are looking forward to welcoming our new associates to the TD AMERITRADE family.”
“This transaction is a culmination of our efforts over the years to create an industry-leading platform to serve the active trader and informed investor,” said Lee Barba, former chairman and chief executive officer at thinkorswim Group Inc. “We are delivering a premium to our shareholders, while our clients, current students and graduates will soon begin to benefit from an even greater breadth of quality tools, products and services.”
After considering the impact of TD AMERITRADE’s recently completed stock buy-back program, the acquisition was effectively financed with cash. The Company expects little to no impact to its fiscal 2009 earnings, with 3-7% accretion expected in fiscal 2010 and 7-10% in fiscal 2011.
“The advancement of our trading strategy, made possible by this acquisition, will yield numerous benefits for our clients, shareholders and associates,” said Fred Tomczyk, president and chief executive officer. “We have solidified our industry leadership position in trading and will use thinkorswim’s outstanding trading and educational capabilities to further strengthen our competitive position. Clients are anxious to use new tools and services, and we are looking forward to welcoming our new associates to the TD AMERITRADE family.”
“This transaction is a culmination of our efforts over the years to create an industry-leading platform to serve the active trader and informed investor,” said Lee Barba, former chairman and chief executive officer at thinkorswim Group Inc. “We are delivering a premium to our shareholders, while our clients, current students and graduates will soon begin to benefit from an even greater breadth of quality tools, products and services.”