(Bloomberg) — Morgan Stanley agreed to purchase Eaton Vance Corp. for about $7 billion in Chief Executive Officer James Gorman’s second major acquisition this year, both of which tilt the investment bank further toward the steadier business of money management.Eaton Vance shareholders will receive a total cash-and-stock consideration of about $56.50 a share, Morgan Stanley said in a statement Thursday. That represents a 38% premium over Eaton Vance’s closing price Wednesday.Gorman has become the most prolific dealmaker on Wall Street in the past three years, using acquisitions to transform his bank. Just days after completing the purchase of E-Trade Financial …read more
Source:: Yahoo Finance
