The move will give
one of Wall Street’s powerful blue-chip firms control of a major presence in
the world of online brokerages.
Morgan Stanley
announced on Thursday that it would buy E-Trade, the online discount brokerage,
for about $13 billion, in the biggest takeover by a major American lender since
the 2008 global financial crisis.
The deal would give
Morgan Stanley — long known as one of Wall Street’s most blue-chip names, whose
asset management business caters to the wealthy — a big share of the market for
online trading, an additional 5.2 million customer accounts and $360 billion in
assets |||READ
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