S&C Advises Scottrade in Its $4.2 Billion Acquisition by TD AmeritradeSeptember 18, 2017
S&C advised Scottrade Financial Services, Inc., parent of Scottrade, Inc. and Scottrade Bank, in their acquisition by TD Ameritrade Holding Corporation and The Toronto-Dominion Bank, for approximately $4.2 billion in cash and TD Ameritrade common stock.
Scottrade Financial Services, Inc. is a privately held financial services firm with four key lines of business: Scottrade, Inc., a leading brokerage company; Scottrade Advisor Services, a division of Scottrade, Inc., which serves registered investment advisers; Scottrade Bank, a provider of online retail banking products and services, commercial lending and commercial equipment financing; and Scottrade Investment Management, providing investment guidance services.
This transaction adds significant scale to TD Ameritrade's retail business, extends its leadership in trading and more than quadruples the size of its branch network.
The S&C team advising Scottrade on the transaction was led by Mark Menting. Ronald Creamer advised on tax matters, and Catherine Clarkin is advised on securities matters.