Morgan Stanley buying E*Trade for about $13 billion
Posted Feb 20, 2020 5:45 am.
This article is more than 5 years old.
NEW YORK — Morgan Stanley is buying online brokerage E(asterisk)Trade for about $13 billion.
In the all-stock deal announced Thursday, E(asterisk)Trade shareholders will receive 1.0432 Morgan Stanley shares for each share they own.
E(asterisk)Trade has over 5.2 million client accounts with over $360 billion of retail client assets, adding to Morgan Stanley’s existing 3 million client relationships and $2.7 trillion of client assets.
The deal is expected to close in the fourth quarter.
The Associated Press
