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Investment Banking

Is Bank of America the next activist target?

Some Bank of America investors have reached out to activist investors about getting into the stock

Is Bank of America the next activist target?
Photo: iStockPhoto

It could have been Bank of America.

Activist investor ValueAct Capital Management took Wall Street by surprise when it disclosed Monday that it had bought a stake in Morgan Stanley, flouting conventional wisdom that activists don't engage in banking because there are too many regulations to make a big difference in a company's strategy.

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