Morgan Stanley In Talks To Merge With Wachovia
“Morgan Stanley sought shelter from the growing financial storm Wednesday, entering preliminary merger talks with Wachovia Corp. and other banks as a seventh straight decline in the company’s share price sent the stock to its lowest level since 1998. After a harrowing day, Morgan Stanley’s shares finished down $6.95, or 24%, to $21.75. Goldman Sachs Group, the largest U.S. investment bank by market value, also fell $18.51, or 14%, to $114.50.” [Link]
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