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July 20, 2020

E*Trade shareholders give go-ahead to merger with Morgan Stanley

Shareholders of online broker E*Trade Financial have given their green light to the firm’s proposed acquisition by Morgan Stanley.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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by GlobalData
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Over 99% of E*Trade shareholders voted in favour of the deal.

The deal awaits regulatory approvals, with completion anticipated in the final quarter of this year.

The all-stock deal, valued at nearly $13bn, was announced in February this year.

As per the agreed terms of the merger deal, E*TRADE stockholders will be entitled to receive 1.0432 Morgan Stanley shares for each share held.

The combined business will manage $3.1trn in client assets and 8.2 million retail client relationships.

The deal will combine E*TRADE’s U.S. stock plan business with Shareworks by Morgan Stanley.

Through the deal, Morgan Stanley is said to become a top player across Financial Advisory, Workplace, and Self-Directed channels.

At the time of the deal’s announcement, E*TRADE CEO Mike Pizzi said: “By joining Morgan Stanley, we will be able to take our combined offering to the next level and deliver an even more comprehensive suite of wealth management capabilities.

“Bringing E*TRADE’s brand and offerings under the Morgan Stanley umbrella creates a truly exciting wealth management value proposition and enables our collective team to serve a far wider spectrum of clients.”

Morgan Stanley expects the deal to boost its return on tangible common equity by over 100bps and increase Wealth Management’s pre-tax profit margin to more than 30%.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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