PHILADELPHIA, Nov 24 (Reuters) – Morgan Stanley (MWD.N: Quote, Profile, Research) recently offered to buy $5 billion hedge fund FrontPoint Partners, but a deal never materialized because the two parties couldn’t agree on a price, The New York Times reported on Thursday, citing unnamed sources briefed on the talks.
Morgan Stanley chief executive John Mack, who took the helm at the investment bank in June, is working to boost Morgan Stanley’s lagging share price and stem departures of its most productive bankers and traders.
