by Calculated Risk on 10/13/2008 09:06:00 AM
Monday, October 13, 2008
Mitsubishi invests in Morgan Stanley
From MarketWatch: Mitsubishi UFJ invests $9 billion in Morgan Stanley
Mitsubishi UFJ Financial closed on a $9 billion equity investment in New York-based Morgan Stanley, giving the Japanese bank a 21% ownership stake. The buyer acquired $7.8 billion of perpetual non-cumulative convertible preferred stock with a 10% dividend and a conversion price pegged at $25.25 a share.