E-Trade from online trading to the Wall Street temple

In addition to shaking American stock exchange, the financial transaction initiated by Morgan Stanley is already history: it is the largest acquisition since the financial crisis that broke out in the United States due to subprime mortgages.

Pursued since 2002, as Morgan Stanley’s

Going into the details of the transaction, the acquisition of E-Trade launched by Morgan Stanley is a transaction orchestrated entirely in shares. In summary, a public exchange offer that will allow investors of the online broker to receive 1.0432 shares of Morgan Stanley for each of those of E-Trade in their possession, or approximately $ 58.74, with a premium of 30% compared At the closing on Wednesday.

top management pointed out, the merger with E-Trade has a specific goal for the American bank founded in 1935: to accelerate and complete the transformation of the group into a leader in the management of funds on behalf of small Investors and savers.

As revealed by the two leading companies, the acquisition is expected to end in the fourth quarter of 2020 (therefore at the end of the year), and will allow Morgan Stanley to acquire 5 million customers, an online bank and $ 360 billion in assets, which add up to the Its portfolio of 3 million customers and $ 2.7 trillion of customer assets.