Keefe, Bruyette & Woods Comments On Charles Schwab Deal To Acquire OXPS

Keefe, Bruyette & Woods Comments On Charles Schwab Deal To Acquire OXPS In a report published by Keefe, Bruyette & Woods, Charles Schwab & Co SCHW announced that it has agreed to acquire OXPS in an all-stock transaction for $1 billion, based on a share price of $17.91. Keefe, Bruyette & Woods said that this represents a 16.8% premium to OXPS' prior trading day close. “The transaction is expected to be modestly accretive in the first year as revenue and expense synergies are expected to total $80 mil. The transaction is expected to close in 3Q11 pending regulatory and shareholder approval.” Charles Schwab & Co closed yesterday at $17.65.