October 24, 2016 / 10:17 AM / in 10 months

TD Ameritrade to buy Scottrade Financial in $4 bln deal

Oct 24 (Reuters) - TD Ameritrade Holding Corp said on Monday it would buy privately held Scottrade Financial Services Inc in a cash-and-stock deal valued at $4 billion.

TD Ameritrade, the biggest discount brokerage by trade executions, said it expected to realize about $450 million in combined annual expense synergies, and more than $300 million in additional longer-term opportunities once the deal closes. (Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila)

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