Source: Morgan Stanley
Morgan Stanley (NYSE: MS) announced today that it has received regulatory approval from the Federal Reserve to acquire E*TRADE Financial Corporation (“E*TRADE”).
Morgan Stanley and E*TRADE expect to complete the transaction on October 2, 2020.
"We are pleased to have received approval from the Federal Reserve," said James P. Gorman, Chairman and Chief Executive Officer of Morgan Stanley. "Both our teams have worked tirelessly over the past six months to bring our organizations together, and we are excited about the benefits our combined firm will provide to our clients, employees and shareholders.”