Morgan Stanley On Track to Complete E*Trade Acquisition in Q4

Morgan Stanley has said that it is on track to close its Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of discount brokerage E*Trade in the final quarter of this year during a conference call held on the 16th of April, 2020.

During Morgan Stanley’s earnings conference call on Thursday, Jonathan M. Pruzan Morgan Stanley’s CFO, Head of Corporate Strategy and Executive Vice President said: “With respect to our intent to acquire E*TRADE, the HSR waiting period has expired.

“We filed our application with the Federal Reserve in March, and we will soon file the proxy statement/prospectus. E*TRADE will hold the shareholder vote this summer, and we remain on track to close the transaction in the fourth quarter.”

Morgan Stanley Acquisition of E*Trade worth $13b

As Finance Magnates reported, Morgan Stanley agreed to purchase E*Trade back in February in a deal worth around $13 billion, with the all-stock deal marking the biggest transaction made by a Wall Street bank since the financial crisis.

Under the agreement, Morgan Stanley will pay $58.74 a share in stock for E*Trade, at a premium of 30.7 per cent to the last closing price of E*Trade shares. Under the agreement, shareholders of the discount brokerage will receive 1.0432 Morgan Stanley shares for each share.

The deal, which is expected to close in the fourth quarter, will provide a boost to the American multinational bank’s wealth management unit, which the firm’s CEO has been trying to bolster, by increasing the scale and breadth of the unit.

Following the acquisition, the combined platforms will have $3.1 trillion client assets, 8.2 million retail client relationships and accounts, and 4.6 million stock plan participants.

Morgan Stanley and E*Trade are set to file the relevant materials with the SEC (Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission), including the Form S-4 that includes a proxy statement of E*Trade, a regulatory filing shows.