Charles Schwab Corp. said it will acquire the online brokerage optionsXpress Holdings for $1.0 billion.

OptionsXpress stockholders will receive 1.02 shares of Schwab stock for each share of optionsXpress stock. Based on Schwab’s closing stock price as of March 18, 2011, the transaction values each optionsXpress share at $17.91. That in turn translates to a transaction value of $1.0 billion.

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