M&A · Financials · Security & Commodity Brokers, Dealers, Exchanges & Services
The Charles Schwab Corporation to acquire Forge Global Holdings, Inc.
Announced Nov 6, 2025 · Closed Mar 2, 2026
Deal value$612M
Premium170.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$45.00 per share
Transaction
- Acquirer
- The Charles Schwab Corporation
- Target
- Forge Global Holdings, Inc. (FRGE)
- Buyer type
- Strategic
- Offer price per share
- $45.00
- Enterprise value
- —
- Status
- Closed Mar 2, 2026
Deal protections
- Break fee (target pays)
- $25.7M · 4.2%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- FT Partners
Sector context · Financials
- Comparable deals
- 60 in the prior 24 months
- Premium
- 170.0% vs. 35.5% sector median
- EV / Adj. EBITDA
- Sector median 13.1x
- Break fee
- 4.2% vs. 3.7% sector median
Timeline
- AnnouncedNov 6, 2025
- Proxy filedDec 5, 2025
- Definitive proxyDec 15, 2025
- Shareholder voteJan 22, 2026
- ClosedMar 2, 2026