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2/20/2020 6:13PM     

Why Morgan Stanley’s Investors Aren’t Sure About The E*Trade Buyout

Morgan Stanley is buying E*Trade in a $13 billion all-stock takeover, but the giant U.S. bank’s shares fell after the announcement. Heard on the Street’s Telis Demos explains how though the logic behind the buyout is sound, the price may make it hard to create value. Photo: Justin Sullivan/Getty Images

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