Published 13 days ago • loading... • Updated 12 days ago

TD Bank Group to sell remaining 10.1 per cent stake in Charles Schwab

TD Bank Group plans to sell its 10.1 percent stake in Charles Schwab Corp.
The sale involves 184.7 million shares, valued at approximately US$15.4 billion based on Schwab's closing share price.
Charles Schwab has agreed to repurchase US$1.5 billion of the shares from TD.
TD intends to buy back 100 million of its common shares, about 5.7 percent of its total shares.

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The Business Journals

TD Bank to sell $15B stake in Charles Schwab

The decision comes after federal regulators in the U.S. levied more than $3 billion in fines against TD Bank and implemented a strict cap on asset growth against the company due to concerns over its anti-money laundering practices. to Toronto-based TD Bank is offloading its stake in Charles Schwab Corp. as part of a "strategic review" after federal regulators in the U.S. levied more than $3 billion in fines and implemented a strict cap on asset …

13 days ago·United States

TD Bank Group to sell remaining 10.1% stake in Charles Schwab

TD Bank Group plans to sell its 10.1 per cent stake in the Charles Schwab Corp.

13 days ago·Toronto, Canada

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WTVB

Canada’s TD Bank to exit Charles Schwab stake worth $15.4 billion

By Manya Saini (Reuters) -Toronto-Dominion Bank will offload its 10.1% stake in U.S. financial services firm Charles Schwab, the Canadian lender said on Monday, as part of a strategic review undertaken following a landmark U.S. fine. TD holds 184.7 million shares of Charles Schwab, worth roughly $15.4 billion based on the last close. Charles Schwab’s shares were last down 3.2% in premarket trading, while TD’s U.S.-listed shares rose 2.7%. Canada…

13 days ago

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CNBC

Canada's TD Bank to exit Charles Schwab stake worth $15.4 billion

Toronto-Dominion Bank announced on Monday it will exit from the 10.1% stake it has in financial services firm Charles Schwab, as part of a strategic review.

13 days ago·United States

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The Globe & Mail

TD Bank selling full stake in Charles Schwab

Dropping 10.1% ownership for an estimated US$14-billion as it remediates anti-money laundering failings and rejigs balance sheet to comply with U.S. restrictions

13 days ago·Canada

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Global News

TD Bank to exit US$15.4B stake of Charles Schwab as new CEO begins overhaul - National

TD Bank is currently Charles Schwab's largest shareholder, a stake which it acquired as part of the financial services firm's US$26 billion purchase of TD Ameritrade in 2020.

13 days ago·Toronto, Canada

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