(Courtesy photo)
Davis Polk is advising longtime client Morgan Stanley on the biggest U.S. bank buyout since the 2008 debt debacle, with Skadden taking the lead for E*Trade.
February 20, 2020 at 10:39 AM
1 minute read
Davis Polk & Wardwell, extending its decadeslong relationship with Morgan Stanley, is advising the bank on the biggest U.S. bank buyout since the 2008 debt debacle: a $13 billion acquisition of discount broker E*Trade.
The all-stock transaction, announced Thursday after The Wall Street Journal first reported the deal, will see Morgan Stanley take on an additional 5 million customers and $360 billion in assets.
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