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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; john.kell@dowjones.com

Stock News for Invesco Ltd (IVZ)
DateTimeHeadline
12/06/201616:13:18Statement of Changes in Beneficial Ownership (4)
12/02/201609:00:00PowerShares Provides Estimated Capital Gains Information for...
12/01/201613:08:00Invesco Closed-End Funds Declare Dividends
12/01/201609:00:00Invesco Expands Factor ETF Line-up with Launch of Two High Dividend...
11/29/201616:19:18Statement of Changes in Beneficial Ownership (4)
11/28/201608:00:00Global Study: The Next Five Years Will See Dramatic Increase...
11/23/201621:40:00Wilbur Ross Expected to Be Named Commerce Secretary by Donald...
11/23/201616:01:00PowerShares Announces Listing Transfer for 27 ETFs
11/18/201616:13:00PowerShares Canada annonce les distributions annuelles estimatives...
11/18/201616:10:00PowerShares Canada announces estimated 2016 annual distributions...
11/18/201615:49:00Invesco annonce des distributions en espèces pour les FNB PowerShares...
11/18/201615:40:00Invesco announces cash distributions for Canadian-listed PowerShares...
11/14/201608:21:10Form 13f Holdings Report (13f-hr)
11/10/201610:07:32Current Report Filing (8-k)
11/10/201609:02:00Invesco Canada remporte six prix Lipper
11/10/201609:00:00Invesco Canada wins six Lipper awards
11/09/201616:15:00Invesco Ltd. Announces October 31, 2016 Assets Under Management...
11/07/201611:30:00L'équipe Invesco Fixed Income élargit sa présence au Canada
11/07/201611:30:00Invesco Fixed Income team expands Canadian presence
11/07/201611:00:00Invesco simplifie sa gamme de produits

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