Morgan Stanley weighing possible merger: report

Reuters
Wednesday, Sept 17, 2008

Investment bank Morgan Stanley is weighing whether it should remain independent or merge with a bank, give the recent turbulence in the company's share price, broadcaster CNBC reported on Wednesday.

Morgan Stanley officials were not in merger talks as of late Tuesday, CNBC said, citing unnamed people close to the matter.

"But senior people at Morgan concede that further zig-zags in the company's stock price could and possibly will force the company to change course and seek a merger partner, probably a well capitalized bank," CNBC reported on its Website.

Morgan Stanley shares closed down 10.8 percent at $28.70 on Tuesday, having fallen 46 percent so far this year.

Morgan Stanley officials in Hong Kong declined to comment on the report.

In an interview with Reuters on Tuesday, Morgan Stanley's Chief Financial Officer Colm Kelleher said the No. 2 U.S. investment bank remains confident in its broker-dealer model and dismissed the need to merge with a deposit-taking bank, even as he maintained a cautious stance about the markets.

Full article here

[DISCUSS THIS STORY IN OUR FORUM]




Paul Joseph Watson: Internet Censorship a Growing Cancer



Steve Watson: British Kids Encouraged To Become "Climate Cops"



Steve Watson: Terror Stopped For Putting My Hand in My Pocket



Paul Watson on the Alex Jones Show: The state wants your children.
 


Web PM




Copyright © Global Matrix Enterprises 2001-2008. All rights reserved. Legal Notice.