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Morgan Stanley to Buy E-Trade for $13 Billion

Video Credit: Wibbitz Top Stories - Duration: 00:53s - Published
Morgan Stanley to Buy E-Trade for $13 Billion

Morgan Stanley to Buy E-Trade for $13 Billion

Morgan Stanley to Buy E-Trade for $13 Billion The Wall Street giant is set to purchase the online broker in an all-stocks deal.

E-Trade’s more than 5.2 million mainstream investing clients will boost Morgan Stanley’s wealth management unit, which caters to more affluent customers.

Morgan Stanley Chairman, via statement The merger is expected to transform the companies into one of the leading financial firms on Wall Street and Main Street.

Morgan Stanley anticipates nearly $400 million in potential cost savings but has not commented on job cuts.

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