Stock Watch: NDB Soars on Buyout Bid

National Discount Brokers Group Inc. (NYSE: NDB), the parent of online brokerage, climbed 22 1/4 to 47 1/2 Tuesday, after the company said it received a $49 per-share buyout offer from Deutsche Bank AG, as well as overtures from other unidentified suitors.

Deutsche Bank already owns approximately 16 percent of NDB’s common shares. NDB said it is continuing to talk with Deutsche Bank about its proposal, which is subject to the negotiation of a definitive agreement and approval of both companies’ boards. At the same time, NDB said, it has received inquiries from other companies about a potential combination, and is reviewing the alternatives.

NDB said it hired US Bancorp Piper Jaffray and Credit Suisse First Boston to help the company evaluate its options, and will make no further announcements until it has reached a definitive agreement or a decision not to sell.

Leave a Comment

Please sign in to post or reply to a comment. New users create a free account.

Elon Musk's Dec. 2 action to release The Twitter Files: Approve or Disapprove?
Loading ... Loading ...

LinuxInsider Channels