To TDWaterhouse account holders.....
From the wire a few minutes ago.....
E*Trade possibly 'merging' with TDW. TDW to maintain 40% interest in combined company.
I hope not. I love TDW, hate E*Trade.
Any suggestions? Comments?
Regards, Steve
Here's the release from Yahoo Briefing:
8:16AM ET, TD Waterhouse close to deal 13.42: The Globe and Mail newspaper reports that Toronto-Dominion Bank is nearing a deal to merge its TD Waterhouse discount brokerage unit with E-Trade Financial (ET). Quoting sources familiar with the negotiations, the paper said TD Bank would hold between 40 and 50 percent of the new company, making it the biggest shareholder. But E-Trade's management would run the new brokerage. The paper said a deal could be presented to the boards of both companies as early as next week. Assuming TD secures a 40-percent stake in the new company, the deal would have an implied value of about C$8 billion ($6.3 billion), it added. -- Reuters
Best Regards, Steve (The Grabber)
