E-Trade Financial Corp is believed to be in merger talks with Charles Schwab Corp and TD Ameritrade Holding Corp, according to a report on Friday on business news channel CNBC.
E-Trade and Charles Schwab could not immediately be reached for comment. A spokesperson for TD Ameritrade said the company has been pursuing growth through mergers and acquisitions but declined to comment on E-Trade specifically.
TD Ameritrade Chief Executive Joe Moglia recently said on CNBC that it has previously talked with E-Trade, but declined to be more specific. And earlier this month Charles Schwab Chief Executive Charles Schwab said the company was interested in buying additional client accounts.
E-Trade shares were up sharply on the news.