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Monday, October 13, 2008

Mitsubishi invests in Morgan Stanley

by Calculated Risk on 10/13/2008 09:06:00 AM

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.