Schwab Agrees to Buy Private Share Platform for $660 Million

Charles Schwab Corp. agreed to buy Forge Global Holdings Inc., a marketplace for buying and selling shares of private companies, for about $660 million.

Under the terms of the transaction, Schwab will acquire all of Forge’s shares for $45 apiece, according a statement Thursday. That’s about 72% more than the closing price on Wednesday.

The deal would be the first for Schwab under Chief Executive Officer Rick Wurster, who took the helm of the retail brokerage at the beginning of the year. Acquiring Forge could aid his ambitionto give customers more opportunities to gain exposure to unlisted ...