Bid Premiums Lowering As Targets Settle For Less

While bid premiums in M&A deals are slowly falling once again across the board, Morgan Stanley's disposal of its retail investment management business highlights how this drop has been even greater for US banks selling off their toxic assets. Representing a sign of the times in financial services, Morgan Stanley's US$1.5bn combined cash-and-stock disposal of its loss-making unit to Invesco also marks the third disposal in the sector in nearly as many months.

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