Ameritrade shareholders approve TD Waterhouse acquisition
Ameritrade Holding Corporation (NASDAQ:AMTD) announced that its shareholders have voted to approve the proposed acquisition of TD Waterhouse at a special shareholders meeting.
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The acquisition received the necessary votes for approval with over 97 percent of the votes cast in favor of the deal. Over 72 percent of shareholders voted.
Ameritrade's Board of Directors also declared the $6.00 per share special cash dividend, contingent on the closing of the acquisition of TD Waterhouse. Closing of the acquisition is expected on Jan. 24, 2006.
"Our shareholders' support for this transaction represents their affirmation of the financial and strategic value of this deal. Shareholders will receive one of the largest dividends paid in U.S. history. Our clients will benefit from a full spectrum of offerings, covering everything from a do-it-yourself online experience to branches and advisors for investors who want more help," said Joe Moglia, chief executive officer.