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Article: WALL STREET MEETS MAIN STREET : MORGAN STANLEY, DEAN WITTER TO MERGE.(BUSINESS)
- Article from:
- Daily News (Los Angeles, CA)
- Article date:
- February 6, 1997
CopyrightCOPYRIGHT 1997 Daily News. 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: Peter Truell The New York Times
Morgan Stanley Group, one of Wall Street's elite investment firms, and Dean Witter, Discover & Co., which sells stocks and bonds to the masses, agreed to merge Wednesday into the world's biggest securities company in a transaction valued at $10.2 billion.
The combination of Morgan Stanley, with offices in 19 countries and a client roster of some of the world's best-known blue-chip corporations, and Dean Witter, a mutual fund and credit card giant that serves more than 40 million Americans, would knock Merrill Lynch & Company from the No. 1 spot in both assets under management and market value.
Morgan ...