Business Morgan Stanley buys E-Sell greatest acquisition on Wall Street...

Morgan Stanley buys E-Sell greatest acquisition on Wall Street considering that the financial crisis

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Morgan Stanley concurred to purchase discount rate brokerage E Trade Financial Corp. for US$13 billion, pushing even more into the retail market in the most substantial acquisition by a Wall Street company offered that the financial crisis.

The all-stock takeover includes E Trade’s US$360 billion of customer residential or commercial properties to Morgan Stanley’s US$ 2.7 trillion, the business stated Thursday in a statement.

Morgan Stanley will keep the E Trade brand name in some technique, Gorman specified on a teleconference with experts.

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