TD Ameritrade Completes Thinkorswim Acquisition

JOSH FUNK

OMAHA, Nebraska (AP) — Online brokerage TD Ameritrade Holding Corp. said Thursday it has completed its $606 million acquisition of thinkorswim Group Inc.

Thinkorswim shareholders will receive $3.34 per share and 0.3980 of a share of Ameritrade common stock for each share of thinkorswim common stock. Thinkorswim's shareholders approved the deal on Tuesday.

Officials at Omaha-based Ameritrade have said this acquisition will strengthen the company's trading business and add new tools for advanced options and futures.

"We have solidified our industry leadership position in trading and will use thinkorswim's outstanding trading and educational capabilities to further strengthen our competitive position," Ameritrade Chief Executive Fred Tomczyk said.

Ameritrade said this deal will make it the new industry leader in the number of options trades placed each day. It also provides millions of clients with access to the investor education program thinkorswim offered.

Ameritrade said this deal didn't dilute its shareholders' ownership because Ameritrade repurchased roughly 36 million shares of its stock since announcing the deal in January. So thinkorswim was effectively purchased with cash.