Dominion Bank Of Canada

Toronto-Dominion Bank offered Wednesday to buy the 12% of No. 2 discount brokerage TD Waterhouse Group Inc. that it doesn't already own for about $409 million. The bank also said it will fire 200 employees at its securities arm, resulting in a $102-million pretax charge in its fiscal fourth quarter ending Oct. 31. Toronto-Dominion (TD), Canada's No. 2 bank, would pay $9 a share for each share of TD Waterhouse, 45% more than Tuesday's closing price of $6.20.

Toronto-Dominion Bank offered Wednesday to buy the 12% of No. 2 discount brokerage TD Waterhouse Group Inc. that it doesn't already own for about $409 million. The bank also said it will fire 200 employees at its securities arm, resulting in a $102-million pretax charge in its fiscal fourth quarter ending Oct. 31. Toronto-Dominion (TD), Canada's No. 2 bank, would pay $9 a share for each share of TD Waterhouse, 45% more than Tuesday's closing price of $6.20.

Ameritrade Holding Corp. said Wednesday that it would buy electronic brokerage rival TD Waterhouse USA in an acquisition that analysts said underscored how cutthroat competition and anemic trading volumes were transforming the beleaguered online trading industry. The $2.