Morgan Stanley To Buy Remaining Stake In $13.5B-Valued MSSB

Law360, New York (September 11, 2012, 10:56 PM EDT) -- Morgan Stanley will buy Citigroup Inc.’s remaining stake of Morgan Stanley Smith Barney Holdings LLC in a deal that values the broker-dealer at $13.5 billion, the buyer said Tuesday.

Morgan Stanley will first buy a 14 percent stake in Morgan Stanley Smith Barney for an estimated $1.89 billion, based on the $13.5 billion valuation price, along with roughly $5.5 billion of deposits at no premium, the New York-based investment bank said in a statement.

The investment bank, which currently owns a 51 percent stake in the...
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