TeleBanc and E*trade Merge in $1.8B Deal

Share this article:
Online brokerage E*trade Group Inc., Palo Alto, CA, and TeleBanc Financial Corp., Arlington, VA, this week joined forces in a deal worth $1.8 billion.


The merger will take the form of a stock swap, in which TeleBanc shareholders will receive 2.1 shares of E*trade common stock for each share of TeleBanc's common stock. TeleBanc shareholders will ultimately own 13 percent of E*trade's common stock.


Both companies said the merger is one of the first attempts in the United States to unite banking and brokerage activities in one online proposition. Under one account, customers will be able to complete a range of online financial transactions, including paying bills, trading stocks, and purchasing mutual funds, certificates of deposit and fixed-income securities, they said.
Share this article:
You must be a registered member of Direct Marketing News to post a comment.

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Agency

Are You Really Ready for Customer Experience?

Are You Really Ready for Customer Experience?

Marketers can talk a good game about customer centricity, but actions speak louder than words.

Essentials in Content Marketing: Think like a best-selling author

Essentials in Content Marketing: Think like a best-selling ...

Imagine if all the electronic content thrown your way daily was actually printed on paper. To stand out from those piles of worthless pixels, you must offer your audiences intriguing ...

The Mobile-Email Marriage

The Mobile-Email Marriage

Marketers who considered leaving email at the altar are finding renewed passion for the channel as an ever-increasing number of customers triage, read, and click-through email on their smartphones.