October 11, 2001 |
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.
May 26, 2005 |
Discount brokerage TD Waterhouse Group Inc. on Wednesday apologized to rival Charles Schwab Corp. and said it would stop running a series of TV advertisements that Schwab called unfair and misleading. The steps, announced in a brief joint statement, came as part of a settlement of a lawsuit by San Francisco-based Schwab alleging that the ads unfairly linked its pricing and commission structure with full-commission brokerage firms.
March 15, 2005 |
Discount brokerage pioneer Charles Schwab Corp. sued the TD Waterhouse Group Inc. on Monday, alleging that its rival's advertisements falsely labeled Schwab as a high-priced firm with inferior service. The trade libel complaint filed in state court underscores Schwab's determination to reclaim its reputation as a bargain brokerage.
June 24, 1999 |
After a rocky several weeks, Internet IPOs again registered big first-day pops Wednesday as investors cheered the quality of the latest offerings. Ariba Inc.'s 291% jump marked one of the biggest one-day gains for an initial public offering in weeks. Sunnyvale, Calif.-based Ariba (ticker: ARBA), which provides software for the business-to-business e-commerce market, rocketed $67 to close at $90 on Nasdaq. Two other IPOs also registered strong first-day gains. GlobeSpan Semiconductor Inc.
June 23, 1999 |
Discount brokerage TD Waterhouse Group Inc., on Tuesday upped the size of its stock offering by 31% to $1 billion, indicating that investor demand for online brokerage shares is still high, according to people close to the deal. The unit of Canada's Toronto-Dominion Bank plans to sell 42 million shares at $24 apiece. The offering values TD Waterhouse at $9 billion. The New York-based company earlier this month said it would sell 32 million shares for $20 to $24.
June 7, 2007 |
TD Ameritrade Holding Corp. said Wednesday that the online brokerage would consider a merger as it finished integrating TD Waterhouse's U.S. retail securities business. Ameritrade's stock rose 76 cents, or 3.8%, to $20.71, a 52-week high. The Omaha, Neb.-based company disclosed late Tuesday in a regulatory filing that it had received a letter from investment funds Jana Partners and S.A.C. Capital Advisors urging the company to make a deal. The funds said they owned 8.4% of Ameritrade's shares.