I don’t know how many times I can use the word suitor on this blog but as the rumors swhirl and the Wall Street giants teeter on the brink of extinction suitor is probably the best description of the remaining big depositories who are poking around to see if any potential brides have a limited ugly side to them.
The latest? Reuters is reporting that HSBC might be a buyer for Morgan Stanley. Take this with a grain of salt – I’m sure everyone is talking to everyone and realistically there are only a few buyers that could pull of these types of deals, so expect to hear their names everywhere until they make a (inevitable?) move.
From Reuters:
London-based bank HSBC (HSBA.L: Quote, Profile,Research, Stock Buzz) (0005.HK: Quote,Profile, Research, Stock Buzz) has been cited as a possible buyer of U.S. investment bank Morgan Stanley (MS.N:Quote, Profile, Research, Stock Buzz), broadcaster CNBC reported.
CNBC said according to unnamed sources, Morgan Stanley is in talks to possibly be acquired by China’s CITIC Group, though no deal was certain.
“Morgan Stanley’s senior management has been in talks with a number of potential buyers, and a deal becomes more likely as the investment bank’s stock — which plunged more than 24 percent Wednesday — declines further. London-based HSBC has also been cited as a possible suitor for Morgan Stanley,” CNBC reported on its Website.
Morgan Stanley is also purported to be considering a possible tie-up with Wachovia. To me this seems like tying your boat to the Titantic, but what do I know?
Last 3 posts by Morgan
- Subprime Bananas - June 28th, 2009
- Roubini: No confidence in government exit strategy - June 24th, 2009
- Goldman bonuses largest in firm's 140-year history - June 21st, 2009
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