NEW YORK (

TheStreet

) -- Directors at

TD Ameritrade

(AMTD) - Get Report

plan Tuesday to discuss the possibility of trying to acquire rival online-brokerage firm

E*Trade

(ETFC) - Get Report

,

The Wall Street Journal

reported, citing people familiar with the situation.

The board meeting already was scheduled when E*Trade's biggest shareholder, Citadel,

called on the company to consider a sale

, the

Journal

reported.

The expected talks don't necessarily mean that TD Ameritrade will make an offer for E*Trade, the

Journal

said, but analysts consider Ameritrade a likely buyer, citing the allure of E*Trade's brokerage clients and the potential overlap of the firm's banking assets with

Toronto-Dominion Bank

(TD) - Get Report

. The Canadian bank owns a minority stake in Ameritrade.

An Ameritrade spokeswoman told the newspaper the company will "often look at opportunities in the marketplace in terms of the financial or strategic value they could add to our firm and will continue to do so." She declined to comment About Tuesday's meeting.

E*Trade on Friday said it retained

Morgan Stanley

(MS) - Get Report

to consider its future. Morgan Stanley will report to a committee that includes Citadel CEO Kenneth Griffin, who has served as a director for two years.

Analysts also consider

Charles Schwab

(SCHW) - Get Report

a potential suitor, though the company's chief executive on Friday cited several hurdles to an E*Trade deal, the

Journal

said.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here:

Joseph Woelfel

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