E-Trade Shares Spike on Takeover Talk |
| CNNMoney.com - Nov 23, 2007 |
E-Trade Financial Corp. shares spiked 19 percent Friday on continued speculation the struggling online brokerage might negotiate a takeover by chief rivals TD Ameritrade Holding Corp. or Charles Schwab Corp.
There's no doubt the companies have been interested in exploring a potential deal for the past few years. And, recent comments made by Ameritrade Chief Executive Joe Moglia about his interest in buying at least part of E-Trade has sparked expectations that more serious talks might have evolved.
Speculation E-Trade may be searching for a buyer started after it said in a regulatory filing that securities backed by home mortgages lost significant value, and it will book larger-than-expected writedowns in the fourth quarter.
Read Full Article from CNNMoney.com
- Posted: 2007-11-23 12:49:46
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