Mitsubishi UFJ Financial Group said Monday it intends to take a 10% to 20% stake in Morgan Stanley, a move that may cause other non-US institutions to continue to pursue opportunities in the US.
The investment, announced a day after the US investment bank got approval by the Federal Reserve to become a federal bank holding company, would be based on Morgan Stanleyâs book value as agreed upon after completion of satisfactory due diligence, according to a statement.
