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Article: MERGER COULD RESHAPE WALL STREET MORGAN STANLEY, DEAN WITTER DEAL LARGEST IN INDUSTRY.(Business)
- Article from:
- Rocky Mountain News (Denver, CO)
- Article date:
- February 6, 1997
CopyrightCOPYRIGHT 1997 Rocky Mountain News. All rights reserved. Reproduced with the permission of Dialog LLC by Gale Group. 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: Richard Melville Reuter
NEW YORK -- Morgan Stanley Group Inc. and Dean Witter, Discover & Co. Wednesday announced the biggest merger ever in the securities industry, a $10.7 billion deal that promised to reshape the landscape on Wall Street.
The merger would combine Dean Witter's retail brokerage and Morgan Stanley's investment banking business into a power house with $271 billion in assets under management, the largest among U.S. securities firms, the companies said.
The merged company would present a serious challenge to Merrill Lynch & Co. Inc., which had been the only Wall Street firm with a major presence in the areas of mergers ...