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Article: Deutsche Bank AG Reaches Agreement to Acquire National Discount Brokers Group, Inc.
- Article from:
- PR Newswire
- Article date:
- October 12, 2000
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Combined Firm to Become Top-5 Nasdaq Market Maker,
Leading Online Retail Brokerage
NEW YORK, Oct. 12 /PRNewswire/ --
Deutsche Bank AG ("Deutsche Bank") and National Discount Brokers Group, Inc. ("NDB") today announced the signing of a definitive merger agreement under which Deutsche Bank will acquire the 84% of the outstanding shares of NDB that it does not currently own for $49.00 per share in cash. In the first half of 2000, Deutsche Bank acquired approximately 16% of NDB. The acquisition, which was unanimously approved by Deutsche Bank's Board of Managing Directors and, except for the Deutsche Bank representative who did not participate in ...