...“A strategic combination with E*Trade Financial or Charles Schwab presents a massive value creation opportunity,” read the letter, by Jana Managing Partner Barry Rosenstein. “The ‘right time’ to pursue such a combination is now.” Rosenstein said Ameritrade could save $600 million a year of costs by combining with E*Trade and $800 million in a deal with Schwab.Sincerely,
JANA Partners LLC
Deal Journal notes:
On June 11, E*Trade stock was trading at $24.69.