{"id":8835,"date":"2008-10-12T00:00:00","date_gmt":"2008-10-12T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"morgan-stanley-and-mufg-renegotiating-pact-source","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2008\/morgan-stanley-and-mufg-renegotiating-pact-source.html","title":{"rendered":"Morgan Stanley and MUFG renegotiating pact: source"},"content":{"rendered":"<p><span class=\"yshortcuts\">Reuters &#8211; Japan&#8217;s Mitsubishi UFJ Financial Group<\/span>, which has watched Morgan Stanley&#8217;s share price plunge 58 percent last week, is seeking more favorable terms to its $9 billion deal, a person briefed on the matter said.<\/p>\n<p> The Japanese lender will still buy a 21 percent stake from <span class=\"yshortcuts\">Morgan Stanley<\/span> for $9 billion, but will amend the terms to include only convertible <span class=\"yshortcuts\">preferred shares<\/span> and no common stock, the source said.<\/p>\n<p> Morgan Stanley is the latest stricken U.S. <span class=\"yshortcuts\">financial institution<\/span> to seek refuge in a deal with a larger bank as the worsening credit crisis and accompanying market meltdown has narrowed the options of once stable banks and brokerages.<\/p>\n<p> The <span class=\"yshortcuts\">Morgan Stanley news<\/span> comes as <span class=\"yshortcuts\">Spain&#8217;s Banco Santander SA<\/span> was in advanced talks to buy full control of <span class=\"yshortcuts\">Sovereign Bancorp Inc<\/span> in a deal valued at $2.5 billion, according to another source familiar with the matter.<\/p>\n<p><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/us.rd.yahoo.com\/dailynews\/rss\/business\/*http:\/\/news.yahoo.com\/s\/nm\/20081013\/bs_nm\/us_morganstanley\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters &#8211; Japan&#8217;s Mitsubishi UFJ Financial Group, which has watched Morgan Stanley&#8217;s share price plunge 58 percent last week, is seeking more favorable terms to its $9 billion deal, a person briefed on the matter said. The Japanese lender will [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[859,1753,3135,646,2348,229,3136,117,3138,3133,214,3137,3134,1477,343,1853],"class_list":["post-8835","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-aftermath","tag-aladdin","tag-architects","tag-arthur-sulzberger","tag-bank-loans","tag-eton-park","tag-flexibility","tag-investment-arm","tag-law-experts","tag-pessimism","tag-significant-numbers","tag-sovereign-bancorp","tag-sovereign-bancorp-inc","tag-spanish-property","tag-spokeswoman","tag-west-palm"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8835"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8835\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}