Charles Schwab in its $13.1 billion secondary offering and $1.5 billion repurchase of common stock from TD Bank

On February 10, 2025, The Charles Schwab Corporation announced the sale in a public secondary offering by an affiliate of The Toronto-Dominion Bank of approximately $13.1 billion of Schwab common stock.  Schwab also announced that it entered into a repurchase agreement with TD, pursuant to which Schwab agreed to repurchase from TD $1.5 billion of Schwab nonvoting common stock.

Wachtell, Lipton, Rosen & Katz served as counsel to The Charles Schwab Corporation on both transactions.