Ameritrade may be receptive to merger

TD Ameritrade Holding Corp. said Wednesday that the online brokerage would consider a merger as it finished integrating TD Waterhouse’s U.S. retail securities business.

Ameritrade’s stock rose 76 cents, or 3.8%, to $20.71, a 52-week high.

The Omaha, Neb.-based company disclosed late Tuesday in a regulatory filing that it had received a letter from investment funds Jana Partners and S.A.C. Capital Advisors urging the company to make a deal. The funds said they owned 8.4% of Ameritrade’s shares.

Ameritrade spokeswoman Katrina Becker said Wednesday that the company was always in talks with other firms but gave no further comment, citing securities regulations.

“It is absolutely accurate to say that we have been and are talking with peers in the industry,” she said.

Her comments came after the two hedge funds called on the company to pursue a combination with online brokerage rivals E-Trade Financial Corp. or Charles Schwab Corp.

Becker said the reorganization from the January 2006 TD Waterhouse deal would be complete in September.