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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
06/23/201613:46:18Annual Report of Employee Stock Plans (11-k)
06/21/201613:20:00Invesco Study Finds U.S. Sovereign Investor Confidence High...
06/20/201616:40:00PowerShares Canada annonce des distributions en espèces pour...
06/20/201616:40:00PowerShares Canada announces cash distributions for Canadian-listed...
06/15/201616:30:00Invesco Announces Additional Risk Information Related to the...
06/15/201616:25:41Securities Registration: Employee Benefit Plan (s-8)
06/15/201616:15:00Invesco Mortgage Capital Inc. Announces Quarterly Common and...
06/14/201616:10:57Statement of Changes in Beneficial Ownership (4)
06/10/201608:32:10Current Report Filing (8-k)
06/09/201616:15:00Invesco Ltd. Announces May 31, 2016 Assets Under Management
06/08/201610:40:00Top U.K. Asset Manager Mulls New Fund
06/01/201613:01:00Invesco Closed-End Funds Declare Dividends
06/01/201608:30:00Lancement du Fonds en gestion commune de rendements mondiaux...
06/01/201608:30:00Invesco Global Targeted Returns Pool opened to accredited investors
05/26/201608:30:00Invesco Canada lance un fonds équilibré et un fonds de titres à...
05/26/201608:30:00Invesco Canada launches new global balanced and fixed income...
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

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