BREAKING NEWS

BREAKING NEWS

Morgan Stanley to buy employee stock manager for $900 million

Morgan Stanley to buy employee stock manager for $900 million
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LUCAS JACKSON(Reuters)
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(Reuters) - Morgan Stanley said on Monday it would buy Canadian employee stock plans manager Solium Capital for $900 million (£697 million).

The bank will pay C$19.15 (£11.18) per share for Solium, a 43 percent premium over its Friday closing price of C$13.36. The deal is expected to close by June 30. https://reut.rs/2I3oO9H

The transaction is expected to have minimal impact on Morgan Stanley's earnings and capital ratios.

(Reporting By Aparajita Saxena in Bengaluru; Editing by Maju Samuel)

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