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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
05/23/201616:36:47Statement of Changes in Beneficial Ownership (4)
05/20/201603:00:00WL Ross & Co. Sells 20 Percent of VTG AG, Completing a €358 M...
05/19/201614:00:00Invesco Canada améliore sa gamme de fonds communs de placement
05/19/201614:00:00Invesco Canada enhances mutual fund lineup
05/19/201612:20:00Shareholders Seek to Oust Two Exco Directors
05/19/201612:00:00Invesco Real Estate and SSV Properties Sell Apollo at Rosecrans...
05/18/201613:00:00PowerShares Canada annonce des distributions en espèces pour...
05/18/201613:00:00PowerShares Canada announces cash distributions for TSX-listed...
05/16/201614:11:56Form 13f Holdings Report (13f-hr)
05/13/201616:31:30Current Report Filing (8-k)
05/12/201609:08:54Current Report Filing (8-k)
05/11/201608:56:59Current Report Filing (8-k)
05/11/201608:00:00Invesco Further Strengthens Multi Asset Team
05/10/201616:15:00Invesco Ltd. Announces April 30, 2016 Assets Under Management
05/04/201617:09:00Jemstep Added to Pershing's Platform to Offer Digital Solution
05/03/201616:28:56Statement of Changes in Beneficial Ownership (4)
05/03/201616:28:28Statement of Changes in Beneficial Ownership (4)
05/03/201616:26:16Statement of Changes in Beneficial Ownership (4)
05/03/201616:25:21Statement of Changes in Beneficial Ownership (4)
05/03/201616:23:50Statement of Changes in Beneficial Ownership (4)

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