This transaction is expected to boost ETRADEs derivatives capabilities while expanding its customer profile by adding OptionsHouses highly active, derivative-centric traders.
ETRADE Financial has inked a definitive agreement to acquire Aperture New Holdings, Inc.
ETRADE would likely fund this transaction through the issuance of up to $400 million of non-cumulative perpetual preferred stock, with the balance paid in cash.
Paul Idzik, Chief Executive Officer of ETRADE Financial said, Todays announcement is momentous.
ETRADE has a fantastic array of products and services, grounded in a steadfast focus on the customer.
ETRADE expects the deal to be relatively neutral to earnings in 2017 and accretive in 2018, when full run-rate synergies of approximately $65 million annually are expected.
Mike Pizzi, Chief Financial Officer of ETRADE Financial, said, From a capital utilization perspective, this transaction is incredibly attractive.