The big news of the day was Morgan Stanley announcing plans to acquire investment manager Eaton Vance for $7 billion. We’ve got some great analysis on the news, so no point wasting any more time up here!
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It’s been a big year for Morgan Stanley.
Less than eight months after announcing plans to acquire discount brokerage E-Trade for $13 billion — and not even a week after closing the deal — the big bank has already pinpointed its next acquisition target: Eaton Vance.
Rebecca Ungarino has some great analysis on what acquiring a storied asset manager like Eaton Vance means for Morgan Stanley.
In short, it’s a move that indicates the bank’s desire to continue to differentiate its lines of revenue beyond the volatile business of sales and trading.
Click here to read the entire story.
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