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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
04/20/201513:30:00PowerShares Canada annonce des distributions en espèces pour...
04/20/201513:30:00PowerShares Canada announces cash distributions for TSX-listed...
04/16/201516:05:00Invesco Ltd. To Announce First Quarter 2015 Results
04/16/201512:38:25Greek Government Bonds Plunge -- 3rd Update
04/14/201508:04:01Current Report Filing (8-k)
04/13/201516:05:00Invesco Ltd. Announces March 31, 2015 Assets Under Management
04/09/201509:55:00Invesco PowerShares Announces Launch of S&P 500 ex-Rate Sensitive...
04/07/201510:30:00PowerShares Canada declares final valuations and final distributions...
04/07/201510:30:00PowerShares Canada déclare les évaluations et distributions f...
04/01/201512:00:00Invesco Closed-End Funds Declare Dividends
04/01/201509:30:00Invesco Receives Three U.S. Lipper Fund Awards
03/27/201516:06:11Additional Proxy Soliciting Materials (definitive) (defa14a)
03/27/201516:04:27Proxy Statement (definitive) (def 14a)
03/23/201517:11:07Current Report Filing (8-k)
03/23/201517:09:21Additional Proxy Soliciting Materials (definitive) (defa14a)
03/23/201517:00:00Invesco Ltd. Nominates Sir Nigel Sheinwald to Serve on the Board...
03/19/201516:01:00PowerShares Canada annonce des distributions en espèces pour...
03/19/201516:00:00PowerShares Canada announces cash distributions for TSX-listed...
03/17/201516:05:00Invesco Mortgage Capital Inc. Announces Quarterly Common and...
03/15/201506:57:31Dividend Challengers (And Near-Challengers): 51 Increases Expected...

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