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Morgan Stanley reports developments across its global financial services franchise, including wealth management, investment management, institutional securities, private credit and capital markets activity. Recurring updates include Morgan Stanley Investment Management product launches, education resources for advisors, private credit financings, Eaton Vance fund actions, sustainable investing research and family office governance themes.
News also covers capital-structure and shareholder matters, operating and financial results, regulatory disclosures and governance updates tied to Morgan Stanley’s common stock, preferred securities, funds and finance subsidiaries.
Morgan Stanley (NYSE: MS) has reached a definitive agreement to acquire Eaton Vance Corp. (NYSE: EV) for approximately $7 billion. This acquisition enhances Morgan Stanley's asset management capabilities with a combined AUM of $1.2 trillion. The deal, which includes $28.25 per share in cash and stock for Eaton Vance shareholders, is seen as strategically beneficial, with anticipated cost savings of $150 million. The transaction is expected to close in Q2 2021, making it accretive to earnings per share shortly after completion.
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Morgan Stanley (NYSE: MS) has successfully completed its acquisition of E*TRADE Financial Corporation in an all-stock deal, where E*TRADE shareholders will receive 1.0432 shares of Morgan Stanley for each E*TRADE share. This acquisition enhances Morgan Stanley's Wealth Management division, which now manages $3.3 trillion in assets, and establishes it as an industry leader across various channels. Michael Pizzi, E*TRADE's CEO, will lead the digital self-directed business, while Shelley Leibowitz, an E*TRADE independent director, joins Morgan Stanley's Board of Directors.
Morgan Stanley (NYSE: MS) has received regulatory approval from the Federal Reserve to acquire E*TRADE Financial Corporation. The transaction is expected to be completed on October 2, 2020. James P. Gorman, the Chairman and CEO, expressed satisfaction with the approval and highlighted the hard work of both teams over the past six months. The merger aims to enhance service offerings for clients, employees, and shareholders by bringing together the strengths of both firms.
Morgan Stanley (NYSE: MS) will release its third quarter 2020 financial results on October 15, 2020, at 7:30 a.m. (ET). A conference call will follow at 8:30 a.m. (ET) to discuss the results. The call can be accessed via www.morganstanley.com or by calling 1-877-895-9527 (domestic) or 1-706-679-2291 (international). Morgan Stanley is a prominent global financial services firm with operations in over 41 countries, providing a range of services including investment banking and wealth management.