MUFG to acquire Morgan Stanley common stock
Mitsubishi UFJ Financial Group has decided to purchase shares of common stock of Morgan Stanley for approximately US$440 million.
Following a public offering announcement by Morgan Stanley, MUFG is set to acquire 16,034,985 shares at US$27.44 each. The planned closing date is on 15 June 2009.
With this investment, MUFG will continue to hold more than 20 percent of the common stock of Morgan Stanley while aiming to maintain and strengthen their partnership. The two firms are currently engaged in discussions on a global strategic alliance in the fields of corporate finance and investment banking, retail financial business, and asset management.
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