Simpson Reps Schwab In $1B OptionsXpress Buy

Law360, New York (March 21, 2011, 3:37 PM EDT) -- Charles Schwab Corp. has agreed to acquire online options and futures trading firm optionsXpress Holdings Inc. in an all-stock transaction valued at approximately $1 billion, the firms announced Monday.

Under the terms of the deal, optionsXpress stockholders will receive 1.02 shares of Schwab stock for each of their shares. An optionsXpress share will be valued at $17.91, based on Schwab’s closing stock price on Friday.

Both companies will retain their separate brand identities, at least for now, they said. The deal is expected to close in...
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