NEW YORK (
) -- Directors at
plan Tuesday to discuss the possibility of trying to acquire rival online-brokerage firm
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 expected talks don't necessarily mean that TD Ameritrade will make an offer for E*Trade, the
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
. 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
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
a potential suitor, though the company's chief executive on Friday cited several hurdles to an E*Trade deal, the
-- Written by Joseph Woelfel
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