MUFG Mitsubishi agrees to buy 10% to 20% of Morgan Stanley

You know, businesses from other countries are coming in here and buying US Companies at a discount. What is going to happen when we are mostly owned by other countries? I am worried.

Tokyo--Mitsubishi UFJ Financial Group Inc. said Monday it has agreed with Morgan Stanley (MWD) to buy a stake of between 10% and 20% in the U.S. company in order to establish a strategic partnership.

The price per share that MUFG will pay will be decided after due dilgence and will be based on the U.S. bank's book value.

At a press conference in Tokyo, MUFG said its maximum investment in Morgan Stanley will be Y900 billion.

The Japanese bank will also consider dispatching at least one director to Morgan Stanley to sit on its board.

-By Yoshio Takahashi, Dow Jones Newswires; 813-5255-2929; yoshio.takahashi@dowjones.com

(END) Dow Jones Newswires

Source Market Watch

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