E*Trade to buy Harrisdirect
Online banking and brokerage firm E*Trade has agreed to acquire rival online brokerage firm Harrisdirect from BMO Financial Group for $700 million in a cash.
The deal will boost E*Trade's customer assets to about $130 billion. E*Trade will gain about 430,000 active customer accounts with an average balance of more than $70,000. It will also gain $32 billion in assets, $5 billion in cash, $1 billion in margin debt balances and about 15,000 trades a day.
posted by Fergie @ 8/08/2005 07:38:00 AM
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