The Charles Schwab Corporation (SCHW) entered a merger agreement on November 6, 2025, to acquire Forge Global Holdings, Inc. (FRGE) in an all-cash deal valued at $660 million.
Schwab will acquire all of Forge’s issued and outstanding common shares for $45 cash per common share, representing a premium of 72.28% from the stock’s last close.
Forge Global is a fintech company that provides marketplace infrastructure, data, and technology solutions that enable the trading of private company shares between shareholders and accredited investors.
Charles Schwab is a leading financial services company that provides wealth management, brokerage, banking, asset management, and advisory solutions to individual investors and independent advisors.
In October, the Financial Times reported that Forge Global was exploring a sale. The stock was trading at $16.63 when it was revealed that Forge was working with investment bankers at the fintech specialist boutique firm Financial Technology Partners on a possible sale of the company.
The deal is expected to close in the first half of 2026.
Forge’s two largest stockholders, Motive Capital and Deutsche Börse, have agreed to support the deal.
Financial Technology Partners advised Forge on the deal, with legal support from Morris, Nichols, Arsht & Tunnell and Sullivan & Cromwell. J.P. Morgan Securities advised Charles Schwab, which received legal counsel from Wachtell, Lipton, Rosen & Katz.
Charles Schwab will be paying 6.02 times sales for Forge Global.
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Editor’s Note: Baranjot Kaur contributed to this article