Charles Schwab uses $1 billion in stock to buy OptionsXpress

Posted on Monday, March 21st, 2011 at 4:12 pm    

Today, Charles Schwab Corp. agreed to use $1 billion in stock to purchase OptionsXpress, a retail options brokerage.  The brokerage will be used in the Schwab’s equity and mutual funds offerings.

In the purchase, Schwab agreed to exchange 1.02 of its shares for each OptionsXpress share.  OptionXpress’s acquisition price totaled 20 percent more than their closing price on March 18th.

Since 1999, Schwab has made at least 15 business purchases.  Last year, the company bought Windward Investment Management Inc. for $150 million.

If you are a business owner looking to sell your business or purchase another business, contact the Des Moines business sale and purchase attorneys of LaMarca Law Group, P.C. at (877) 327-2600 to learn more about how we can help you.


The Search Engine Guys