Charles Schwab closed the deal to acquire TD Ameritrade Holding in exchange for 509 million of its voting common shares and 77 million of its non-voting common shares. The assets of the clients of the combined company are about $6 trillion in 28 million brokerage accounts. TD Bank, which owned 43% of TD Ameritrade, received 13.5% of Schwab shares, which consist of 9.9% voting common stock and 3.6% non-voting common stock. In addition, the bank will record an asset revaluation gain of $2.3 billion.
Charles Schwab closed the deal to acquire TD Ameritrade Holding in exchange for 509 million of its voting common shares and 77 million of its non-voting common shares. The assets of the clients of the combined company are about $6 trillion in 28 million brokerage accounts. TD Bank, which owned 43% of TD Ameritrade, received 13.5% of Schwab shares, which consist of 9.9% voting common stock and 3.6% non-voting common stock. In addition, the bank will record an asset revaluation gain of $2.3 billion. 
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