Billionaire Peterffy says Interactive Brokers weighed an E-Trade deal but decided it wouldn’t work

From marketwatch.com

Interactive Brokers Group Inc. considered merging with E-Trade Financial about merging their brokerage operations but decided the deal didn’t make sense, according to Interactive’s founder, Thomas Peterffy. Peterffy, a digital-trading pioneer who founded the online platform in 1978, told MarketWatch in a phone interview on Thursday that Interactive Brokers IBKR, -3.58% had weighed a combination with E-Trade ETFC, -1.93% before it agreed to a deal with Morgan Stanley MS, -2.17% MS, -2.17% “It didn’t work for us because they kept their customer money in long-term government bonds and so that’s something we as ... (full story)