https://wccftech.com/e-trade-nasdaq-eftc-acquired-by-morgan-stanley-for-13-billion-the-latest-salvo-in-the-industrys-ongoing-consolidation-wave/

Morgan Stanley (NYSE:MS) is preparing to acquire the retail broker E-Trade Financial Corp. (NASDAQ:EFTC) for $13 billion, according to the reporting by Wall Street Journal.

The all-stock deal – without any cash component – is expected to be announced later on Thursday and achieve closure in the fourth quarter of 2020. According to the pertinent reporting, Morgan Stanley will pay $58.74 a share in stock for E-Trade. If the deal goes through, it will be enumerated as the largest acquisition by a major U.S. financial bank since the financial crisis of 2008-2009.