TD to Exit Remaining Stake in Schwab Amid Strategic Review

The Toronto-Dominion Bank (TD) has agreed to offload its remaining 10.1% equity stake in Charles Schwab Corporation (SCHW) . Subject to the fulfilment of customary closing conditions, the sale is anticipated to be completed on Feb. 12, 2025.TD Bank will sell roughly 165.4 million shares through a registered offering for $79.25 per share. Out of these, Schwab will acquire nearly 19.2 million shares for a total purchase price of$1.5 billion.Consequently, TD will no longer have two members on Schwab’s board. ...