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Schwab-TD Ameritrade Merger Gets Final OK From Regulators

Charles Schwab’s $26 billion dollar acquisition of Omaha-based rival broker TD Ameritrade is set to close next Tuesday after the Federal Reserve signed off on the stock swap deal this week. 

      The deal was announced last November, not long after both brokers eliminated commissions on most stock trades, and it’s expected to take 18-to-36 months to fully integrate.

      Neither Schwab or TD Ameritrade has said how many jobs are expected to be eliminated after the merger, but significant savings are expected. 

      TD Ameritrade was founded by Joe Ricketts, father of Nebraska Gov Pete Ricketts and Chicago Cubs managing partner Tom Ricketts.