Evercore Partners (NYSE:EVR) announced they've hired Eric Mandl, a top technology banker at UBS AG (NYSE:UBS), to be senior managing director, advising large technology, software and Internet firms.
Over the last several days Evercore has been a major part of highly-publicized deals, including Charles Schwab's (NYSE:SCHW) bid for OptionsXpress (NASDAQ:OXPS) and AT&T's (NYSE:T) $39 billion acquisition of T-Mobile.
Mandl has also has had some major deals he was involved in, including advising Dell (NYSE:DELL) on its $960 million deal for Compellent and IBM's (NYSE:IBM) $1.7 billion bid for Netezza.
Evercore was founded by Roger Altman, former Deputy Treasury Secretary.
Evercore closed Monday at $34.06, gaining $3.66, or 12.04 percent.
Showing posts with label OptionsXpress. Show all posts
Showing posts with label OptionsXpress. Show all posts
Tuesday, March 22, 2011
Monday, March 21, 2011
Charles Schwab (SCHW) Acquires OptionsXpress for $1 Billion
Charles Schwab (NYSE:SCHW) announced it will acquire online brokerage services provider OptionsXpress for $1 billion.
Terms of the deal are OptionsXpress (NASDAQ:OXPS) shareholders will receive 1.02 shares of Schwab stock for each share of OptionsXpress share. Based on the closing price of Schwab's on Friday of $17.91, the transaction is valued at $1 billion.
OptionsXpress Holdings Inc., based in Chicago, provides brokerage services for equity options and futures trading. As of the end of February, the company had 385,200 client accounts and $8.1 billion in client assets.
Charles Schwab Corp. had close to $1.6 trillion in client assets at the end of the same period.
The deal is expected to close in the third quarter.
OptionsXpress Holdings, Inc. was trading at $17.65, gaining $2.32, or 15.13 percent, as of 11:41 AM EDT. Schwab was trading at $17.40, down $0.16, or 0.91 percent.
Terms of the deal are OptionsXpress (NASDAQ:OXPS) shareholders will receive 1.02 shares of Schwab stock for each share of OptionsXpress share. Based on the closing price of Schwab's on Friday of $17.91, the transaction is valued at $1 billion.
OptionsXpress Holdings Inc., based in Chicago, provides brokerage services for equity options and futures trading. As of the end of February, the company had 385,200 client accounts and $8.1 billion in client assets.
Charles Schwab Corp. had close to $1.6 trillion in client assets at the end of the same period.
The deal is expected to close in the third quarter.
OptionsXpress Holdings, Inc. was trading at $17.65, gaining $2.32, or 15.13 percent, as of 11:41 AM EDT. Schwab was trading at $17.40, down $0.16, or 0.91 percent.
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