Overview of Transaction
- On November 19, 2003, the Charles Schwab Corporation ("Schwab") announced the acquisition of SoundView for $15.50 per share, or approximately $345,000,000 in cash
- Transaction combined SoundView's high quality independent equity research content with Schwab's premier trading execution capabilities
- Structured as a cash tender offer, the transaction was one of the fastest ever public financial services company transactions to receive all NASD, SEC and shareholder approvals - completed in 55 days
- Company received a 57% premium to its market price on October 1, 2003
- FT Partners provided lead strategic and financial M&A advisory services to SoundView's CEO and Board of Directors
- Prior to advising SoundView on this landmark transaction, Steve McLaughlin, while with Goldman, Sachs & Co. in New York, advised Wit Capital in its original acquisition of SoundView Technology Group in 1999 and subsequently advised Wit SoundView in its acquisition of E*Offering in 2000
- FT Partners was chosen by CEO and board over prior banker and former shareholder, Goldman, Sachs & Co.