The Steps To Investing Many Seem To Take

[Eclectic12]

... TD starting Green Line was a great move for them. It eventually resulted in them buying Waterhouse in the US, IPO'ing the combined company at the internet peak ...

Yes, trading costs are much better. I wonder if TD regrets keeping so much of the TDW stock for themselves (I think if it better than 60% they kept). In hind sight, if there was investor demand, they could have pocketed a lot more as the IPO price was $35.28 and I seem to recall the buyback was about $12.

As a small TDW owner, I though I should have been paid more than a $2 profit as the independent committee felt the buyback price should have been $17.

As a TD owner, I loved the deal!


Cheers

[Square Root]

i recall the IPO price was around $24 and bought back in the low teens. All USD of course. The IPO was for 11% of the company and represented a little over $1 billion and was a very big IPO for the time. It became 100% owned after the buyback. The gain on the IPO went a long way to pay for CT which cost $8billion. The US portion of TD Waterhouse was swapped into the merged TD Ameritrade giving TD a 45% stake in a public co worth over $10billion. The whole thing worked out pretty well for TD shareholders.