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MTU Manitou BF

18.44
0.56 (3.13%)
27 Sep 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Manitou BF EU:MTU Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.56 3.13% 18.44 18.20 18.50 18.46 17.74 17.80 20,210 16:40:00

UPDATE: MUFG To Buy 16 Million Morgan Stanley Stock To Keep 20% Stake

03/06/2009 8:12am

Dow Jones News


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Mitsubishi UFJ Financial Group Inc. (8306.TO) said Wednesday it will buy just over 16 million Morgan Stanley (MS) common shares for about $440 million, to keep a more-than-20% stake in the U.S. bank after it issues additional shares.

Japan's largest banking group by asset and market capital said in a statement it will pay Morgan Stanley $27.44 per share.

Morgan Stanley said Tuesday it plans to raise $2.2 billion in common equity, as it prepares to repay taxpayer money it received under the government's Troubled Asset Relief Program.

During the height of the global financial crisis last October, Tokyo-based MUFG invested $9 billion to buy a little more than a one-fifth stake in Morgan Stanley.

Having a 20% stake in Morgan Stanley allows the Japanese bank to appoint a board member. MUFG is now represented by bank director Nobuyuki Hirano on Morgan's board.

-By Atsuko Fukase, Dow Jones Newswires; 813-6895-7567; atsuko.fukase@dowjones.com

 
 

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