E*Trade, TD Ameritrade to do M&A tango?

Online brokerages are in merger talks but haven't made it final yet, according to published reports.

Cha, cha, cha.

Online brokerages E*Trade Financial and TD Ameritrade Holding reportedly are hitting the dance floor to test out the concept of a merger, according to a report in The Wall Street Journal.

The Journal notes that the parties have been in tight discussions over the past weeks but that they haven't yet progressed to that final M&A dip.

Nonetheless, E*Trade shares were up 6 percent and TD Ameritrade rose 8 percent in pre-market trading, according to MarketWatch.

A merger of the two online brokerages would bring consolidation to the market, a move that investors may or may not appreciate. Last week, competitor Charles Schwab faced faced sporadic outages, as investors loaded its system to conduct trades during a highly volatile market .

 

Join the discussion

Conversation powered by Livefyre

Don't Miss
Hot Products
Trending on CNET

HOT ON CNET

Delete your photos by mistake?

Whether you've deleted everything on your memory card or there's been a data corruption, here's a way to recover those photos.