Morgan Stanley is buying E-Trade for $13 billion

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Morgan Stanley is buying E-Trade for $13 billion KentBrockman ## Reporter 02/21/20 (Fri) 00:01:57 No.253163

By Shawn Knight

https://www.techspot.com/community/staff/shawn-knight.268030/

Morgan Stanley on Thursday announced intentions to purchase online trading platform E-Trade. The all-stock deal is valued at roughly $13 billion and represents the largest takeover of an American lender since the global financial crisis in 2008.

With the acquisition, Morgan Stanley will take on more than 5.2 million additional customer accounts and some $360 billion in assets. They’ll join Morgan Stanley’s existing three million clients and their $2.7 trillion in assets.

E-Trade stockholders will receive 1.0432 Morgan Stanley shares for each E-Trade share they own, or $58.74 per. That’s a more than 30 percent premium over the closing price of E-Trade shares on Wednesday.

https://www.techspot.com/news/84094-morgan-stanley-buying-e-trade-13-billion.html

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