Morgan Stanley Shares Slip Premarket on $13 Billion E*Trade Deal
February 20 2020 - 8:13AM
Dow Jones News
By Colin Kellaher
Shares of Morgan Stanley fell nearly 4% in premarket trading
Thursday after the investment bank agreed to buy online broker
E*Trade Financial Corp. in a $13 billion deal.
The all-stock transaction values E*Trade at $58.74 a share, a
roughly 30.7% premium to Wednesday's closing price of $44.93 for
the Arlington, Va., company.
Morgan Stanley shares, which closed Wednesday at $56.31, were
down 3.8% to $54.15 in premarket trading Thursday, while trading in
shares of E*Trade was halted premarket.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 20, 2020 07:58 ET (12:58 GMT)
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