Morgan Stanley to Buy <br />E-Trade for $13 Billion The Wall Street giant is set <br />to purchase the online broker <br />in an all-stocks deal. E-Trade’s more than 5.2 million mainstream <br />investing clients will boost Morgan Stanley’s <br />wealth management unit, which caters to <br />more affluent customers. Morgan Stanley Chairman, via statement The merger is expected to <br />transform the companies into <br />one of the leading financial firms <br />on Wall Street and Main Street. Morgan Stanley anticipates nearly <br />$400 million in potential cost savings<br />but has not commented on job cuts.
