Ameritrade CEO willing to look at any opportunity

Date: Friday, June 8, 2007
Author: Tara Perkins, ReportonBusiness.com

The chief executive officer of TD Ameritrade Holding Corp. said the brokerage is not only evaluating deals with other online brokers, it would also consider transactions that push its asset-gathering strategy. Joe Moglia was speaking in New York after the company received a letter from two hedge funds that said they collectively have an economic interest of about 50 million shares in TD Ameritrade, and they want it to merge with one of its rivals - namely E*Trade Financial or Charles Schwab. "Our approach to life, as far as all this goes: an intense focus on our business plan, and, along with that, really working hard to make sure that we are looking at a number of opportunities in the marketplace," Mr. Moglia said. AMTD (Nasdaq) fell 71 cents (U.S.) to $20.