Morgan Stanley (MS) finalizes its deal to buy the rest of Morgan Stanley Smith Barney from...

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

Morgan Stanley (MS) finalizes its deal to buy the rest of Morgan Stanley Smith Barney from Citigroup (C) no later than June 1, 2015 at an implied valuation of $13.5B, reports Reuters. The price seemingly represents a victory for Morgan, which bid $9B against Citi's $22B offer. A 3rd party appraiser recently finished its evaluation.