MERGER AND ACQUISIONS (M&A)
On March 1, 2010 I wrote about the possibility that ’ETFC’ will be bought by a larger company.
TODAY.
e*Trade Rises 7% on Speculation TD Ameritrade May Be Interested in Company .
-- e*Trade (ETFC) is up after Reuters reports that TD Ameritrade (AMTD:$20.41,00$0.23,001.14%) has a lot of cash and could be interested in an acquisition.
The story said that in November, AMTD CEO Fred Tomczyk said an acquisition would be the best use of its cash cushion, and that it would consider a deal for struggling smaller rival ETFC.
He told Reuters on Wednesday ETFC "is on a better footing today than they were a year or two ago, no question. But that doesn't mean it's over. They still have their issues to work out. They're through the worst."
Price: 1.82, Change: +0.12 , Percent Change: +7.06