Mitsubishi Financial

Morgan Stanley Sells 21% Stake To Mitsubishi for $9b

Morgan Stanley, fresh off its announcement last week to convert from pure investment bank to commercial bank (Goldman Sachs did the same), has reached an agreement to sell a 21% stake of the company to Mitsubishi Financial for $9b. Earlier this year, Mitsubishi did the biggest bank deal of the year (at the time) by

Imminent Bank Deals: Wells/Wachovia, Morgan/Mitsubishi (Updated)

UPDATE 1: Citi beat Wells on Wachovia, will acquire them for $2.16b. UPDATE 2: Morgan/Mitsubishi deal is done for $9b. The week opens with Wachovia a bit closer to a deal. There were a few suitors for Wachovia which is troubled by a $110b option ARM loan portfolio, including Citigroup, but Wells Fargo has emerged

Union Bank of CA, Top Jumbo Lender, Taken Over By Mitsubishi

Mitsubishi Financial, Japan’s largest bank, increased its bid today to take over the third of Union Bank of California that it doesn’t already own. It will buy the remaining shares for an estimated $73.50 per share, valuing the bank at $10.1 billion. It’s the biggest bank deal announced this year. This is relevant for California