TD Bank to sell Schwab stake

TD Bank (TSE:TD) Looks to Sell Its Schwab Stake
About three weeks ago, we heard stirrings that Toronto-Dominion Bank (TSE:TD) had an eye toward getting out from under its stake in Charles
Canada's TD bank to divest Charles Schwab stake worth $15.4 billion
Canada's Toronto-Dominion Bank intends to exit its full equity investment in U.S. financial services firm Charles Schwab , the companies said on Monday.
TD Bank to Sell Investment in Charles Schwab
Toronto-Dominion Bank will exit its investment in Charles Schwab, the Canadian bank’s first big move under new CEO Raymond Chun to shore up its business following a costly money-laundering scandal.
TD Bank to sell Schwab stake as part of asset-cap strategy
The Canadian bank plans to exit its 10.1% interest in the brokerage firm, allowing it to shore up capital and strategically shrink to adhere to penalties related to its historic compliance failures.
TD to sell its $15B stake in Charles Schwab as asset cap fallout continues
TD also reportedly agreed to sell a $9 billion portfolio of jumbo mortgages as the bank continues to pare operations under a federal asset cap.
TD Bank to exit US$15.4B stake of Charles Schwab as new CEO begins overhaul
TD Bank is currently Charles Schwab's largest shareholder, a stake which it acquired as part of the financial services firm's US$26 billion purchase of TD Ameritrade in 2020.
TD Bank Group Announces Intent to Sell its Equity Investment in Schwab
A preliminary prospectus supplement relating to the secondary offering of Schwab shares held by TD will be filed by Schwab with the U.S. Securities and Exchange Commission (the “SEC”). TD Securities and Goldman Sachs will be acting as joint bookrunning managers on the offering.
TD Bank to sell $15B stake in Charles Schwab
TD Bank currently holds 184.7 million shares of Schwab (NYSE: SCHW), or a 10.1% stake. Shares of Schwab were down almost 3% in morning trading on Feb. 10 to around $80.70, valuing TD's stake at approximately $15 billion. TD became Schwab's largest shareholder following the latter's $26 billion acquisition of Ameritrade in 2020.
Canada's TD Bank to exit Charles Schwab stake worth $15.4 billion
Canada's Toronto-Dominion Bank said it would offload its 10.1% stake in U.S. financial services firm Charles Schwab, as part of a strategic review undertaken following a landmark U.S. fine. TD holds 184.
TD Bank intends to sell equity investment in Charles Schwab
TD Bank Group (TD) announced its intent to sell its entire equity investment in The Charles Schwab Corporation (SCHW) through a registered
Schwab Shares Dip After TD Bank Sells Stake
Shares of Charles Schwab slipped Monday after Toronto-Dominion Bank announced it plans to sell its 10.1% stake in the brokerage. TD Bank said it would sell approximately 185 million shares of Schwab a
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Bank of America to acquire TD Bank’s $9bn jumbo mortgage portfolio
For TD Bank, the sale is part of efforts to adjust its balance sheet to meet a $434bn cap on its US retail banking assets.
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