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Morgan Stanley Up Big Again
Morgan Stanley (MS - Snapshot Report) shares scaled 20% gain this morning after it offered Mitsubishi UFJ Financial Group Inc. (MTU - Analyst Report) better terms for the latter’s $9 billion investment on Monday.
Mitsubishi’s entire investment, which will give it a 21% stake in Morgan Stanley, will now be in preferred shares paying 10% interest. It was earlier decided that Mitsubishi would get $6 billion in preferred shares and the rest in common stock. Mitsubishi was trading at $8.04 early today, but has since pulled back to the $7.80 range.
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| Market Summary | Nov 26, 2009 00:06 am ET |
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