TD Ameritrade (AMTD - Get Report) announced Wednesday it would buy back 34 million shares from founder Joe Ricketts' family, which will use the proceeds to help finance its purchase of the Chicago Cubs.The online brokerage firm will buy the Ricketts' stock for $11.85 per share as part of its existing buyback programs, the company said in a statement. These buyback programs include the repurchase of shares it plans to issue in its proposed acquisition of thinkorswim Group (SWIM).
TD Ameritrade to Buy Back 34M Shares From Ricketts Family
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