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Article: United States: Morgan Stanley (MS) Gives Update On Mitsubishi UFJ As Stock Slides.
- Article from:
- TendersInfo
- Article date:
- October 9, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
Morgan Stanley provides an update on Mitsubishi UFJ deal closing after stock slammed on concerns. MS shares are down 27% to $17.22."Morgan Stanley announced that it and Mitsubishi UFJ Financial Group received key regulatory clearances for MUFG's $9 billion investment in the Firm. The investment is being made in connection with a global strategic alliance between the two companies. The investment has been approved by the Federal Reserve in the United States and other key global regulators. Additionally, "early termination" under the Hart-Scott-Rodino Act has been granted by the U.S. government. The transaction is expected to close promptly after ...