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Morgan Stanley Plans To Sell Its Stake In Invesco

DOW JONES NEWSWIRES Invesco Ltd. (IVZ) said Morgan Stanley (MS) plans to sell its stake in the money manager, a sale Morgan Stanley President and Chief Executive James Gorman said will allow the investment bank "to reallocate capital into the firm's client-driven, flow businesses." Invesco's stock slid 5.1% to $22.01 in after-hours trading. It has about 460 million shares. Gorman said, "Invesco has become one of our key global partners across retail, asset management and institutional securities and we look forward to continuing to work closely together." Invesco completed its acquisition of Morgan Stanley's retail asset-management business earlier this year, a deal that included the Van Kampen fund unit. The deal provided to Morgan Stanley $800 million in cash and 30.9 million shares of Invesco. Last month, Invesco reported that its third-quarter earnings grew 47%, beating analysts' views, as the company's results were aided by the acquisition. Revenue jumped 35%, although operating margin fell. -By John Kell, Dow Jones Newswires; 212-416-2480; [email protected]

Stock News for Invesco Ltd (IVZ)
DateTimeHeadline
02/23/201712:14:43Annual Report (10-k)
02/23/201708:08:00Invesco Launches Four Simple, Convenient Single-Ticket Multi-Asset...
02/16/201716:15:00Invesco Ltd. Announces 2017 Annual General Meeting of Shareholders
02/16/201708:30:00Jemstep Partners with SSG to offer Advisor Pro Platform to over...
02/15/201716:27:13Current Report Filing (8-k)
02/15/201716:10:00Invesco annonce des distributions en espèces pour les FNB PowerShares...
02/15/201716:10:00Invesco announces cash distributions for Canadian-listed PowerShares...
02/14/201718:25:47Annual Statement of Changes in Beneficial Ownership (5)
02/14/201714:49:51Form 13f Holdings Report (13f-hr)
02/13/201716:39:28Annual Statement of Changes in Beneficial Ownership (5)
02/10/201716:22:59Amended Statement of Ownership (sc 13g/a)
02/10/201708:43:20Current Report Filing (8-k)
02/09/201716:15:00Invesco Ltd. Announces January 31, 2017 Assets Under Management
02/01/201712:13:00Invesco Closed-End Funds Declare Dividends
01/31/201707:30:00Invesco lance de nouvelles séries pour deux FNB PowerShares...
01/31/201707:30:00Invesco launches new series for two PowerShares Canada ETFs
01/30/201717:15:31Statement of Changes in Beneficial Ownership (4)
01/30/201717:11:38Statement of Changes in Beneficial Ownership (4)
01/30/201717:09:27Statement of Changes in Beneficial Ownership (4)
01/30/201717:04:14Statement of Changes in Beneficial Ownership (4)

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