The Omaha brokerage TD Ameritrade Holding Corp. has received antitrust clearance to acquire some assets of the Brookfield, Wis., banking technology provider Fiserv Inc.
The Federal Trade Commission granted early termination last week of the waiting period under the Hart-Scott-Rodino antitrust law.
Fiserv announced in May that TD Ameritrade had agreed to acquire Fiserv Trust Co. and the accounts of Fiserv's institutional retirement plan and adviser services operations for $225 million in cash. TD Ameritrade would receive up to $100 million more if the operations hit revenue-retention targets.
TD Ameritrade also would reimburse Fiserv for $50 million of net capital included in the business when the deal closes.
Fiserv has been engaged in a lengthy internal review process. When the deal was announced, it said it had decided to sell the unit because it had concluded it could not be a leader in the online brokerage business. It did not say whether it would use that criteria to decide the future of other business lines.
In September, Fiserv said that it was evaluating its operations, with an eye to possibly selling some businesses or shutting them down.
