Morgan Stanley Closes Acquisition of Eaton Vance | Organization & Finance
NEW YORK & BOSTON–(Business WIRE)–Mar 1, 2021–
Morgan Stanley (NYSE: MS) declared these days that it has concluded the earlier introduced acquisition of Eaton Vance Corp. in a stock and income transaction. Eaton Vance frequent stockholders ended up presented .5833 Morgan Stanley prevalent shares and $28.25 per share in money for every single Eaton Vance popular share, and had the option to elect to receive the merger consideration all in income or all in inventory, topic to proration and adjustment. As supplied below the merger arrangement, Eaton Vance shareholders also gained a exclusive dividend of $4.25 per share, which was compensated on December 18, 2020 to shareholders of file on December 4, 2020.
“This acquisition even further improvements our strategic transformation by continuing to include a lot more price-based mostly revenues to enhance our environment-course, integrated financial investment lender. With the addition of Eaton Vance, Morgan Stanley will oversee $5.4 trillion of consumer assets throughout its Prosperity Administration and Financial investment Management segments. The Morgan Stanley Financial commitment Administration and Eaton Vance corporations are offering powerful expansion and their complementary investment and distribution capabilities will provide substantial incremental benefit to our investment administration clients,” said James P. Gorman, Chairman and Chief Government Officer of Morgan Stanley.
Thomas E. Faust, Jr., Chairman and Chief Government Officer of Eaton Vance, will develop into Chairman of Morgan Stanley Investment decision Administration and will be part of the Morgan Stanley Administration Committee.
“We are energized to welcome Eaton Vance. Our merged business is exceptionally well positioned to supply differentiated benefit to our consumers and expansion opportunities for our staff members,” claimed Dan Simkowitz, Head of Morgan Stanley Expense Management.
”My Eaton Vance colleagues and I are happy to join Morgan Stanley to get started the operate of constructing the world’s leading asset administration corporation,” mentioned Mr. Faust. “On a mixed basis, Morgan Stanley Investment Management and Eaton Vance have unmatched financial investment abilities, distribution achieve and customer associations all-around the world.”
Morgan Stanley is a primary international money solutions company providing a large selection of financial commitment banking, securities, wealth administration and financial commitment administration providers. With offices in much more than 41 international locations, Morgan Stanley’s workers provide clients around the world, which include organizations, governments, establishments and individuals. For additional data about Morgan Stanley, make sure you visit www.morganstanley.com.
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PUB: 03/01/2021 09:00 AM/DISC: 03/01/2021 09:01 AM
Copyright Business Wire 2021.