Charles Schwab to Acquire ThomasPartners

October 15, 2012

On October 15, 2012, The Charles Schwab Corporation (NYSE: SCHW) announced that it has reached an agreement to acquire ThomasPartners, Inc. for an upfront payment of $85 million in cash, with additional payments contingent on future growth in assets under management.


On October 15, 2012, The Charles Schwab Corporation (NYSE: SCHW) announced that it has reached an agreement to acquire ThomasPartners, Inc. for an upfront payment of $85 million in cash.  The terms of the deal include the opportunity for additional payments contingent on future growth in assets under management.  ThomasPartners is a dividend income-focused asset management firm headquartered in Wellesley, Massachusetts and has approximately $2.3 billion assets under management.  The transaction, which is subject to customary closing conditions, is expected to close in the fourth quarter. 

To read the press release, please click here.


Categories

Investment Manager M&A, Transactions