Scottrade said to be exploring possible sale

Scottrade Financial Services, one of St. Louis’ largest private companies, is said to be working with an adviser to explore a possible sale of the company and has drawn interest from one of its largest rivals.

A deal could value the company at about $4 billion, people familiar with the matter told Bloomberg. Scottrade has drawn interest from competitors including Omaha-based TD Ameritrade Holding Corp., the sources told the news agency. TD Ameritrade is valued at about $17.2 billion.

A final decision hasn’t been made and there’s no guarantee an agreement will come to fruition, the people told Bloomberg. Scottrade representatives didn’t immediately respond to the news agency’s requests for comment, and a TD Ameritrade representative declined to comment.

Read more: St. Louis Business Journal

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