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Oct 2, 2020 · Morgan Stanley (NYSE: MS) announced today that it has completed the acquisition of E*TRADE Financial Corporation (E*TRADE) in an all-stock transaction. E*TRADE common stockholders are entitled to receive 1.0432 Morgan Stanley common shares for each E*TRADE common share.
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Oct 2, 2020 · Michael Pizzi, CEO of E*TRADE, joins Morgan Stanley and will lead E*TRADE’s direct-to-consumer, digital self-directed business that will operate under the E*TRADE brand, and will co-lead the...
Oct 2, 2020 · Michael Pizzi, CEO of E*TRADE, has joined Morgan Stanley and will lead E*TRADE's direct-to-consumer, digital self-directed business that will operate under the E*TRADE brand, and will co-lead...
- Rttnews
Feb 20, 2020 · The transaction will create a leading player in Workplace Wealth, combining E*TRADE’s leading U.S. stock plan business with Shareworks by Morgan Stanley, a top provider of public stock plan administration and private cap table management solutions.
- Terms of The Deal
- Financial Benefits
- Rating Action by Moody’s on Completion
- Conclusion
- Similar Moves by Peers
- 5 Stocks Set to Double
Per terms of the deal, each common shareholder of E*TRADE will get stock equivalent to 1.0432 of Morgan Stanley shares for every E*TRADE share held. This represents a per share value of $58.74 based on the closing price of Morgan Stanley common stock as of Feb 19, 2020. Strategically, the combined entity will enhance through advanced technologies, ...
Catering huge funding benefits to Morgan Stanley, the deal comes with around $56 billion of low-cost deposits. The acquisition move follows the bank’s efforts to record revenues from balance-sheet light and more lasting sources of revenues. Markedly, post integration, the combined wealth and investment management businesses are likely to contribute...
Following the completion of the transaction, Moody's Investors Service, the rating arm of Moody’s Corporation MCO upgraded Morgan Stanley's long- and short-term ratings to A2 (senior unsecured)/Prime-1 from A3 (senior unsecured)/Prime-2. Also, the long-term ratings and assessments of the bank's principal U.S. bank subsidiary — Morgan Stanley Bank, ...
Morgan Stanley’s acquisition of E*Trade is in sync with its aim for transition toward “a more balance-sheet light business mix”, with diversified revenue sources. The deal was able to withstand the uncertainty surrounding the economy over the coronavirus pandemic. Shares of Morgan Stanley have rallied 29.7%, over the past six months compared with 2...
Consolidation in the finance sector seems to be a way forward amid heightened costs of regulatory compliance and increased investments in technology. The likelihood of a prolonged low rate environment is a concern as well. Thus, industry players are trying to strengthen profitability through strategic buyouts. Last year, in a surprise move, Charles...
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, Se...
Oct 2, 2020 · NEW YORK & ARLINGTON, Va.--(BUSINESS WIRE)-- Morgan Stanley (NYSE: MS) announced today that it has completed the acquisition of E*TRADE Financial Corporation (E*TRADE) in an all-stock...
In October 2020, the company was acquired by Morgan Stanley. [5] [6] [7] Management history.
