Morgan Stanley announced on November 9, 2010 an underwritten public offering to sell 30,891,439 shares of Invesco common stock held by a Morgan Stanley affiliate.
On November 9, 2010, Morgan Stanley (NYSE:MS) and Invesco Ltd. (NYSE:IVZ) announced an underwritten public offering of 30,891,439 shares of Invesco common stock held by an affiliate of Morgan Stanley. The Invesco stake was originally acquired by Morgan Stanley as part of the consideration for Invesco’s acquisition of Morgan Stanley’s retail investment management business, including the Van Kampen funds unit (see our 10/19/09 post). Morgan Stanley & Co. Incorporated acted as the sole book-running manager and underwriter for the offering. On November 10, 2010, it was announced that the offering was priced at $21.48 per share resulting in $664 million of proceeds to Morgan Stanley.
To read the November 9 press release, please click here.
To read the November 10 press release, please click here.