TD Ameritrade's board of directors will meet Tuesday to discuss buying the company's rival online broker E*Trade Financial Corp.

The Wall Street Journal reported that TD Ameritrade's board will consider the option but there's no information the company is steamrolling toward an offer.

E*Trade Financial's largest shareholder, Citadel LLC pushed last week the online brokerage firm to consider a sale of its business.

A TD Ameritrade spokeswoman told the Wall Street Journal Sunday that the company will "often look at opportunities in the marketplace in terms of the financial or strategic value they could add to our firm and will continue to do so." The spokeswoman declined comment on the Tuesday board of directors meeting, when TD Ameritrade is expected to discuss and consider making an offer for E*Trade.