Schwab to Acquire Forge Global in $660 Million All‑Cash Deal, Accelerating the Race to Retail Access for Private Shares (Nov. 6, 2025)
The deal at a glance Schwab will acquire all of Forge’s issued and outstanding common shares for $45 in cash per share. The companies expect to close in the first half of 2026, subject to customary approvals. Forge’s two largest shareholders—Motive Capital and Deutsche Börse—have signed support agreements backing the transaction. Business Wire According to the announcement, Forge operates a marketplace and associated infrastructure that has facilitated more than $17 billion in trades of private‑company shares. Schwab scheduled a webcast at 8:30 a.m. ET today to discuss the transaction. Business Wire Why it matters Private companies—from AI leaders to space and