Morgan Stanley Receives Regulatory Approvals to Complete Acquisition of Morgan Stanley Smith Barney

June 26, 2013

On June 21, 2013, Morgan Stanley (NYSE: MS) announced that it received the final regulatory approvals necessary to complete its acquisition of wealth manager Morgan Stanley Smith Barney Holdings from Citigroup (NYSE: C).

On June 21, 2013, Morgan Stanley (NYSE: MS) announced that it received the final regulatory approvals necessary for its intended acquisition of the remaining 35 percent of Morgan Stanley Smith Barney Holdings LLC from Citigroup, Inc. (NYSE: C). This will make Morgan Stanley the 100 percent owner of the wealth management joint venture, which is also known as Morgan Stanley Wealth Management. The transaction is expected to close on June 28, 2013, and will involve Morgan Stanley exercising its option to pay a previously established $4.7 billion price tag.  Morgan Stanley Smith Barney Holdings LLC will also redeem all Citigroup-owned Class A Preferred Interests for approximately $2 billion.

To read the press release, please click here.


Categories

Investment Manager M&A, Transactions