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.
Upon approval by the Iowa Board of Regents, Iowa State University will purchase Iowa Veterinary Specialties in Des Moines. The university announced their plans to purchase the emergency and specialty care hospital yesterday. The purchase will join the IVS as a part of ISU’s College of Veterinary Medicine.
Officials say that the college’s current medical center, Lloyd Veterinary Medical Center, and Iowa Veterinary Specialties will continue to operate separately and will remain in their current locations.
“The timing is right for creating this affiliation. Our hospital has grown considerably throughout its 30-year history and is well positioned for future growth. Iowa State can help IVS recognize its potential much sooner than would be otherwise,” said one of the founders of IVS.
Contact the Des Moines business sale and purchase attorneys of LaMarca Law Group, P.C. at (877) 327-2600 today if you are a business owner and have questions about purchasing another business or selling your business.
Exelon, one of the nation’s largest utilities providers, recently purchased John Deere Renewables. Exelon has approximately 5.4 million customers and generates around $17 billion of revenue every year.
John Deere Renewables can provide 735 megawatts of clean wind energy to nearly 220,000 homes. Under Exelon, John Deere Renewables will change its name to Exelon Wind and will involve 36 wind energy projects in 8 states.
Exelon CEO and chairman John W. Rowe called the purchase “an economically sound transaction that adds value for shareholders”. In addition, Rowe noted that the purchase will help Exelon to reach its goal of reducing its carbon footprint by 2020.
If you are looking to purchase or sell a business and would like to speak with an experienced business law attorney, contact the business sale and purchase lawyers of LaMarca Law Group, P.C. at (877) 327-2600 today to set up an appointment.