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September 22 – 16:50 ET) – TD Waterhouse has agreed to acquire YorkSHARE, a subsidiary of Yorkshire Building Society, for a purchase price of $15.67 million. YorkSHARE has over 120,000 customers, and its dealing levels account for a significant share of the UK execution-only stock brokering market.
This acquisition more than doubles Waterhouse’s UK market share, the company said in a prepared statement today.
TD Waterhouse Group Inc. is an online financial services firm and the world’s second-largest discount brokerage firm, services over 2.9 million customer accounts world-wide.
In June 1999, TD Waterhouse Group Inc. completed an initial public offering for approximately $1 billion. TD Waterhouse provides investors with a broad range of brokerage, mutual fund, banking and other consumer financial products on an integrated basis. In addition to the United States, customers are located in the United Kingdom, Canada, Australia, and Hong Kong. The firm also has plans to expand into Japan and continental Europe.
-IE Staff
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