Charles Schwab Receives DOJ Approval to Buy TD Ameritrade

Charles Schwab said the U.S. Justice Department's antitrust division has closed its investigation of the company's proposed acquisition of TD Ameritrade.  The deal is expected to close in the second half of the year, with integration likely to take between 18 and 36 months, Schwab said. The proposed merger attracted regulators' scrutiny because of the firms' dominant positions in the industry and their direct contact with individual investors.