PRW: Ameritrade Stockholders Approve Merger With Datek; NASD Approves Change of
(PR Newswire 09/05 11:52:48)
Control; New Board of Directors Named
OMAHA, Neb.--(BUSINESS WIRE)--Sept. 5, 2002--Ameritrade Holding Corporation
(Nasdaq:AMTD) announced that its stockholders have voted to approve the
proposed merger with Datek Online Holdings Corp. at a special stockholders
meeting held in Omaha, Nebraska today.
The merger received the necessary majority votes for approval with over 99%
of the votes cast by Ameritrade stockholders in favor of the merger.
"This is a very exciting and pivotal time for our shareholders, clients and
associates. This milestone brings us closer to closing this transaction and
implementing our integration plans. As we move forward, we are confident in
our ability to execute on our plan to bring the best of both companies
together. This will result in an even better investing experience for
clients and, therefore, an expected increase in shareholder value," said Joe
Moglia, CEO of Ameritrade.
Datek expects to hold its stockholders meeting on September 6, 2002. Closing
of the merger is expected early next week.
NASD Approves Change of Control
On September 4, 2002, the National Association of Securities Dealers
("NASD") approved the change of control of Datek's broker-dealer
subsidiaries that will result from the merger of Ameritrade and Datek.
New Board of Directors
The Board of Directors of the newly combined company is a complementary
group of professionals with experience in financial markets and the
technology industry. "This new Board is a powerful combination of executives
with business and academic backgrounds. Board members from Ameritrade
provide a continuity that will be enhanced with the fresh perspective of the
other board members and the coming together of a new team," said J. Joe
Ricketts, chairman and founder of Ameritrade Holding Corporation.
The new Board will have nine Directors, eight of those are as follows:
-- J. Joe Ricketts
-- J. Peter Ricketts
-- Thomas S. Ricketts
-- Stephen Pagliuca
-- C. Kevin Landry
-- Glenn H. Hutchins
-- Michael D. Fleisher
-- Mark L. Mitchell
J. Joe Ricketts is currently Chairman of Ameritrade and will continue to
serve in that role upon completion of the merger. Mr. Ricketts held the
position of chief executive officer of Ameritrade from 1981 through February
2001, except for the period from March 1999 to May 2000, during which he was
co-chief executive officer, and the period from May 2000 to August 2000. In
1975, Mr. Ricketts was a founder of Ameritrade and served as a director and
officer. By 1981, Mr. Ricketts acquired majority control of Ameritrade. Mr.
Ricketts is a Director of the Securities Industry Association. He also
served as a member of the District Committee for District 4 of the National
Association of Securities Dealers from 1996 to 1999. Mr. Ricketts received
his B.A. in economics from Creighton University.
J. Peter Ricketts has been President of Ameritrade's Private Client division
since June 2001 and will continue to serve in that role upon completion of
the merger. He has served as a Director of Ameritrade since 1999, has been
Secretary of Ameritrade since May 2001 and also served as Secretary from
November 1996 to October 1999. Since joining the Company in 1993, Mr.
Ricketts has held various leadership roles. Most recently, he was interim
president of Ameritrade Inc. He has also served as Senior Vice President,
Strategy and Business Development, Senior Vice President of Product
Development for Ameritrade Inc., and President of Accutrade, Inc., a
subsidiary of Ameritrade. Mr. Ricketts holds a B.A. in biology and an M.B.A.
in marketing and finance from the University of Chicago. J. Peter Ricketts
is the son of J. Joe Ricketts and the brother of Thomas S. Ricketts.
Thomas S. Ricketts is the Chairman and Chief Executive Officer of Incapital
LLC, a company he co-founded in 1999. Incapital is a technologically
oriented investment bank focused exclusively on the underwriting and
distribution of fixed income products to individual investors. Incapital
underwrites for several major U.S. corporations through its InterNotes SM
product platform. From 1996 to 1999, Mr. Ricketts was a Vice President and
an investment banker for the brokerage division of ABN AMRO. From 1995 to
1996, he was a vice president at Mesirow Financial. From 1988 to 1994, Mr.
Ricketts was a market maker on the Chicago Board Options Exchange. He holds
a B.A. and an M.B.A. from the University of Chicago. Thomas S. Ricketts is
the son of J. Joe Ricketts and the brother of J. Peter Ricketts.
Stephen Pagliuca founded the Information Partners Fund for Bain Capital in
1989. As a managing director of Bain Capital, he has been involved in over
thirty acquisitions of significant information and medical companies.
Previously, Mr. Pagliuca was a vice president at Bain & Company where he
managed significant relationships in the healthcare and information services
industries. He was also involved in developing Bain's turnaround practice in
which he worked with investment groups and corporate clients to rapidly
improve under-performing business units. Mr. Pagliuca also worked as a
senior accountant and international tax specialist for Peat Marwick Mitchell
& Company in the Netherlands. Mr. Pagliuca is a Director of Gartner Group,
Datek, Dynamic Details, FTD and Island Holding Company, Inc. Mr. Pagliuca
earned an M.B.A. from Harvard Business School and a B.A. from Duke
University. He is also a Certified Public Accountant.
C. Kevin Landry has served as a managing director and chief executive
officer of TA Associates, Inc. since its incorporation in 1994. From 1982 to
1994, Mr. Landry served as a Managing Partner of its predecessor
partnership. Mr. Landry also is a Director of Island Holding Company, Inc.
He received an M.B.A. from The Wharton School of Finance and a B.A. in
Economics from Harvard University.
Glenn H. Hutchins is a managing member of Silver Lake Technology Management,
LLC, which he co-founded in January 1999. Silver Lake Technology Management
is a manager of private equity funds, including Silver Lake Partners, L.P.,
and is the general partner of Silver Lake Partners L.P. From 1994 to 1999,
Mr. Hutchins was a senior managing director of The Blackstone Group, where
he focused on private equity investing. Mr. Hutchins is a Director of
Gartner, Inc., Island Holding Company, Inc. and New SAC (Seagate
Technologies). Mr. Hutchins graduated from Harvard College, Harvard Business
School and Harvard Law School.
Michael D. Fleisher is the Chairman and Chief Executive Officer of Gartner,
Inc., a research and advisory firm. Mr. Fleisher was named Chairman of the
Board of Gartner in October 2001 and has been chief executive officer and
Director of Gartner since October 1999. Previously, he has served as chief
financial officer and executive vice president, Finance and Administration,
executive vice president and president, Emerging Businesses, senior vice
president, Emerging Businesses, vice president, Worldwide Events and vice
president, Business Development. Michael Fleisher serves on the Board of
Directors of TruSecure and holds a bachelors degree in economics from the
Wharton School of Business.
Mark L. Mitchell has served as a Director of Ameritrade since December 1996
and served as a member of Ameritrade's Board of Advisors in 1993. Mr.
Mitchell has been an Associate Professor of Business Administration at
Harvard University since July 1999. He has been a Principal at CNH Partners,
LLC, a merger arbitrage fund, since June 2001. Mr. Mitchell was an Associate
Professor of Finance at the University of Chicago from 1994 to 1999 and was
an Assistant Professor of Finance from 1990 to 1993. He was a Visiting
Associate Professor of Business Administration at Harvard University for the
1997-1998 academic year. Mr. Mitchell was a Senior Financial Economist for
the SEC from 1987 to 1990. Mr. Mitchell received a B.B.A. in economics from
the University of Louisiana and received an M.A. in economics and Ph.D. in
applied economics from Clemson University.
About Ameritrade Holding Corporation
Ameritrade Holding Corporation (www.amtd.com) is a pioneer in the online
brokerage industry with a 27-year history of providing clients a
self-directed approach to investment services. The award-winning Company,
through its Private Client and Institutional Client divisions, provides
tiered levels of brokerage products and services tailored to meet the
varying investing, trading and execution needs of individual investors,
financial institutions and corporations.
CONTACT: Ameritrade Holding Corporation, Omaha
Corporate Communications:
Donna Kush, 402/827-8931
dkush@ameritrade.com
or
Investor Relations:
Dave Pleiss, 402/597-5658
dpleiss@ameritrade.com |
