'We evaluated whether we should buy them or not and we decided against it,' IB founder Thomas Peterffy said.
for $13 billion, the latest in a consolidation wave for the brokerage industry that collectively lowered trading commissions to zero last year.
Morgan Stanley will pay $58.74 a share in stock for E-Trade in a deal bringing together $3.1 trillion in client assets. It's the biggest takeover by a U.S. bank since the financial crisis. "I think it's a fair price," Peterffy said. "That's where we thought we would be if they had no other barriers in the way.""We cannot take on existential risk, no matter how small the probability is for that risk to be realized," he said.The deal, which is expected to close in the fourth quarter, follows last year's $26 billion all-stock purchase of
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Thomas Doherty Was Surprised By His First 'High Fidelity' Song, TooHighFidelity star thomasadoherty talked to us about his top 5 favorite tracks, his love for Brooklyn, and reimagining the classic film for hulu
Les mer »
Thomas Keller to Import New York’s TAK Room to Las VegasThomas Keller's paean to the America of yesteryear is officially a chainlet (Via EaterVegas)
Les mer »
Exclusive: Billionaire Peterffy says Interactive Brokers talked to E-Trade about a deal but decided it wouldn’t workInteractive Brokers Group Inc. was in talks with E-Trade Financial about merging their brokerage operations but decided the deal didn’t make sense, according...
Les mer »
Goldman Sachs decided to pass on E-Trade before Morgan Stanley snatched it up, sources sayMorgan Stanley CEO James Gorman said he has been interested in E-Trade for 20 years, but Goldman decided against pursuing a deal for the brokerage.
Les mer »
Morgan Stanley is buying E-Trade for $13 billionMorgan Stanley is buying online broker E-Trade for $13 billion in an all-stock deal, a move that shows how serious the Wall Street giant is about catering to everyday consumers.
Les mer »
Morgan Stanley, with E-Trade deal, makes 'land rush' for mom-and-pop investorsMorgan Stanley's $13 billion purchase of discount brokerage E-Trade is yet another example of a big Wall Street firm trying to appeal to smaller investors.
Les mer »