Schwab Pays $1B For OptionsXpress

Charles Schwabhas purchased equity-options and futures trading company,optionsXpress,金融时报》reports. The online retail brokerage will give 1.02 shares of its stock in exchange for each share of optionsXpress, or $17.91 per share, valuing the company at about $1 billion.

The companies estimate to generate about $80 million in synergies, mostly from revenues, while generating about $55 million in merger expenses. Schwab will retain optionsXpress’ platform.

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