Morgan Stanley Increases Stake In MSSB By 14%

According to a statement released this morning, Morgan Stanley is purchasing an additional 14% stake in Morgan Stanley Smith Barney Holdings LLC from Citigroup.

The purchase price will be determined over a 90-day period.

Morgan Stanley has obtained regulatory approval to go forward with the deal.

According to the press release, there will be no further comment on the deal from Morgan Stanley until the purchase price is determined.

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