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TD Bank Financial Group Comments on TD AMERITRADE's Announced Acquisition of thinkorswim
TORONTO, Jan. 8 /CNW/ - TD Bank Financial Group (TSX, NYSE: TD) today commented on an earlier announcement by TD AMERITRADE Holding Corporation (NASDAQ: AMTD) of its entry into a definitive agreement to acquire thinkorswim Group Inc. (NASDAQ: SWIM). "We believe this will be a great opportunity for TD AMERITRADE and its customers," said Ed Clark, President and Chief Executive Officer of TD Bank Financial Group (TDBFG). "This acquisition will accelerate TD AMERITRADE's growth, as well as enhance its position in the options trading market and the investor education space." Impact on TDBFG The transaction is not expected to materially affect TDBFG's earnings, nor to have a material capital impact. TD AMERITRADE has declared its intention to initiate a new stock buyback program, which combined with the thinkorswim acquisition, will leave TDBFG's ownership in TD AMERITRADE materially unchanged. The transaction is expected to close within six months, following regulatory and thinkorswim shareholder approvals, as well as customary closing conditions. About TD Bank Financial Group The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Financial Group. TD Bank Financial Group is the sixth largest bank in North America by branches and serves approximately 17 million customers in four key businesses operating in a number of locations in key financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Insurance; Wealth Management, including TD Waterhouse and an investment in TD Ameritrade; U.S. Personal and Commercial Banking through TD Banknorth and TD Bank, America's Most Convenient Bank; and Wholesale Banking, including TD Securities. TD Bank Financial Group also ranks among the world's leading on-line financial services firms, with more than 5.5 million on-line customers. TD Bank Financial Group had CDN$563 billion in assets as of October 31, 2008. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto Stock Exchange and New York Stock Exchange.
For further information: Tim Thompson, Investor Relations, (416) 308-9030; Barbara Timmins, Corporate and Public Affairs, (416) 307-6498
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