Morgan Stanley Moves to Acquire E*Trade for $13 Billion

Investingport
On Thursday, Feb. 20, Wall Street Investment Bank, Morgan Stanley (MS – 4.3 %) announced that it was making plans to acquire prominent stock brokerage firm, E-Trade (ETFC) in a $13 billion all-stock deal. Both companies described the acquisition deal as a wave that will collectively lower trading commissions in the brokerage industry.The acquisition deal will see Morgan Stanley paying $58.74 per share for E*Trade stocks. The deal is also expected to bring a cumulative total of $3.1 trillion in client assets. The proposed acquisition by this top bank is reportedly the biggest takeover since the financial crisis. Following the…
Source: Morgan Stanley Moves to Acquire E*Trade for Billion

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