E*TRADEFinancial Corp. has agreed to acquire Aperture New Holdings Inc.for $725 million in cash.
Aperture New Holdings, a General Atlantic Service Co. LLC company, is the parentof Chicago-based OptionsHouse, which merged with tradeMONSTER in 2014.
E*TRADE plans to fund the transaction by issuing up to $400million of noncumulative perpetual preferred stock, and paying the balance incash.
The deal is subject to regulatory approvals and closingconditions, and is expected to close in the fourth quarter.
E*TRADE expects the transaction to be relatively neutral toearnings in 2017 and be accretive in 2018. The deal is expected to result innearly $65 million in annual full run-rate synergies in 2018.
Credit Suisse and Skadden Arps Slate Meagher & Flomadvised E*TRADE on the deal. Aperture was advised by Evercore and Paul WeissRifkind Wharton & Garrison. Jefferies also acted as financial adviser toAperture.