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Company News

Morgan Stanley to buy employee stock manager for $900 mln

Feb 11 (Reuters) - Morgan Stanley said on Monday it would buy Canadian employee stock plans manager Solium Capital for $900 million.

The bank will pay C$19.15 per share for Solium, a 43 percent premium over its Friday closing price of C$13.36. The deal is expected to close by June 30. reut.rs/2I3oO9H

The transaction is expected to have minimal impact on Morgan Stanley’s earnings and capital ratios. (Reporting By Aparajita Saxena in Bengaluru; Editing by Maju Samuel)

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