Morgan Stanley (MS) announces receipt of final regulatory approvals to purchase the remaining...

|About: Morgan Stanley (MS)|By:, SA News Editor

Morgan Stanley (MS) announces receipt of final regulatory approvals to purchase the remaining 35% of Morgan Stanley Smith Barney still owned by Citigroup. Closing of the $4.7B cash deal is expected to take place on or about June 28, and Morgan will adjust down its capital by about $200M to reflect the difference in the purchase price and the carrying price. The capital adjustment will weigh a bit on Q2 earnings. (PR)