Posted AT 2:34 PM EST on 13/10/08
Mitsubishi UFJ buys Morgan Stanley stake
NEW YORK — Mitsubishi UFJ Financial Group Inc. (MUFG) completed its $9-billion (U.S.) investment in Morgan Stanley on Monday as U.S. government support helped nail down a critical deal many investors had feared could fall apart.
Morgan Stanley shares soared more than 75 per cent after Japan's largest bank bought a 21 per cent stake one day earlier than expected.
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