Morgan Stanley in trattativa per farsi acquisire

[Mr.Noob]

Penso meriti un thread a parte.

Dal Wall Street Journal, notizia di poco fa.

Morgan Stanley has held preliminary merger talks with Wachovia Corp. and at least one other bank, a person familiar with the matter said.

The investment bank, pursuing alternatives to shore up its falling stock price, has also reached out to regulators and large pension funds in an effort to stop short sellers from betting on the stock's decline.

After Morgan Stanley's precipitous decline in the last few days, its market value is only slightly above Wachovia's, so the likeliest combination would be a merger of equals. Wachovia also has been pounded by the mortgage mess, including its ill-fated acquisition of Golden West Financial Corp. in 2006. Wachovia's $25 billion purchase of Golden West at the height of the housing boom exposed it to large mortgage losses. The Charlotte, N.C., bank has said it believes losses for Golden West's "payment option" loan portfolio could eventually reach 12%.

But many analysts believe the losses from that portfolio may exceed 12 %.

"Is it going to be 20 percent? Is it going to be 30 percent?" said Nancy Bush of NAB Research LLC in Annandale, N.J. "Nobody knows." New CEO Robert Steel is "to some degree hostage. A hostage of the numbers that have been handed to him." Wachovia has created a distressed asset resolution team to work through the problem loans and refinance mortgages where possible. "I don't think they have many options," Ms. Bush said. "There is nobody they can sell this stuff to."

Morgan Stanley said Wednesday it was doing everything it could to shore up a rapidly sinking stock price.

"The smartest people at this firm are focused on solutions," said a company spokeswoman. When pressed about potential merger discussions, she declined to comment.

The firm has said it believes it could stay independent because it doesn't need immediate funding, but it has also recognized that confidence in an investment bank is a precious commodity that can wither quickly and must be preserved at any cost.

Wednesday, Morgan Stanley CEO John Mack called Treasury Secretary Henry Paulson and Securities and Exchange Commission Chairman Christopher Cox, as well as Goldman Sachs Group CEO Lloyd Blankfein, to discuss how to stop the rapid decline in the two firms' share price. They didn't discuss a merger, but mainly how to stop short-sellers betting on a decline in Goldman and Morgan shares, a person familiar with the matter said.

[Mr.Noob]

Il titolo č misleading.
Si tratterebbe di un vero merging, insomma una fusione

[Mr.Noob]

Nel mentre Washington Mutual ha ricevuto un'altra generosa boccata di ossigeno dal fondo di private equity TPG (che giā aveva dato a WMU 7 miliardi di dollari in aprile).
Il suo scopo č alzare il capitale, quindi il valore per poi vendersi al migliore offerente.

Sembrerebbe che la lezione Lehman Brothers sia stata imparata...

[Mr.Noob]

Per chi non lo sapesse infine, anche se la notizia non č freschissima.

LONDON -- U.K. bank Lloyds TSB Group agreed to acquire mortgage lender HBOS PLC, a person familiar with the matter said, in a government-brokered deal aimed at shoring up the British banking system amid a worsening global financial crunch.

The deal will be announced Thursday morning, the person said. The takeover would effectively be a rescue of HBOS, which has seen its share price fall 51% in the past week as worries about banks' health have frozen the markets on which HBOS relies heavily to borrow cash.

[Mr.Noob]

Altro articolo su Wmu che parla della messa in vendita

NEW YORK (Reuters) - Washington Mutual Inc (WM.N: Quote, Profile, Research, Stock Buzz), the giant U.S. savings and loan beleaguered by mortgage losses, has put itself up for sale, sources familiar with the matter said on Wednesday.

The Seattle-based thrift has hired Goldman Sachs & Co and Morgan Stanley to run an auction and potential suitors include Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz), HSBC Holdings Plc (HSBA.L: Quote, Profile, Research, Stock Buzz), JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) and Wells Fargo & Co (WFC.N: Quote, Profile, Research, Stock Buzz), one source said.

A sale is neither imminent nor guaranteed and the thrift is exploring other options, a second source said.

Representatives of Washington Mutual, TPG and the other banks declined to comment or could not immediately be reached.

Analysts have long expected the credit crisis would force weaker lenders into the arms of stronger rivals. A sale of Washington Mutual, the largest U.S. savings and loan, had been widely expected.

"Everything is for sale in the banking world these days," said Ralph Cole, a portfolio manager at Ferguson, Wellman Capital Management in Portland, Oregon. "Washington Mutual should be shopping itself. You'd have to do due diligence on the balance sheet, but people understand the value of a branch network and deposit funding."

[i98mark]

Originalmente inviato da Mr.Noob

Penso meriti un thread a parte.

Dal Wall Street Journal, notizia di poco fa.

Morgan Stanley has held preliminary merger talks with Wachovia Corp. and at least one other bank, a person familiar with the matter said.

The investment bank, pursuing alternatives to shore up its falling stock price, has also reached out to regulators and large pension funds in an effort to stop short sellers from betting on the stock's decline.

After Morgan Stanley's precipitous decline in the last few days, its market value is only slightly above Wachovia's, so the likeliest combination would be a merger of equals. Wachovia also has been pounded by the mortgage mess, including its ill-fated acquisition of Golden West Financial Corp. in 2006. Wachovia's $25 billion purchase of Golden West at the height of the housing boom exposed it to large mortgage losses. The Charlotte, N.C., bank has said it believes losses for Golden West's "payment option" loan portfolio could eventually reach 12%.

But many analysts believe the losses from that portfolio may exceed 12 %.

"Is it going to be 20 percent? Is it going to be 30 percent?" said Nancy Bush of NAB Research LLC in Annandale, N.J. "Nobody knows." New CEO Robert Steel is "to some degree hostage. A hostage of the numbers that have been handed to him." Wachovia has created a distressed asset resolution team to work through the problem loans and refinance mortgages where possible. "I don't think they have many options," Ms. Bush said. "There is nobody they can sell this stuff to."

Morgan Stanley said Wednesday it was doing everything it could to shore up a rapidly sinking stock price.

"The smartest people at this firm are focused on solutions," said a company spokeswoman. When pressed about potential merger discussions, she declined to comment.

The firm has said it believes it could stay independent because it doesn't need immediate funding, but it has also recognized that confidence in an investment bank is a precious commodity that can wither quickly and must be preserved at any cost.

Wednesday, Morgan Stanley CEO John Mack called Treasury Secretary Henry Paulson and Securities and Exchange Commission Chairman Christopher Cox, as well as Goldman Sachs Group CEO Lloyd Blankfein, to discuss how to stop the rapid decline in the two firms' share price. They didn't discuss a merger, but mainly how to stop short-sellers betting on a decline in Goldman and Morgan shares, a person familiar with the matter said.

Scusami, non voglio fare nč il pessimista ad oltranza, nč il bastian contrario...

Perō Wachovia l'ho seguita ed č profondamente impelagata con gli asset dell'immobiliare. Morgan Stanley non l'ho mai seguita per bene, ma il mercato reputa che abbia molti scheletri nell'armadio...

Ammettiamo siano entrambe malconce... ripeto: su MS non so dire, mi fido del crollo delle quotazioni e vado ad orecchio, ma su Wachovia sė, e hanno seri problemi...

Mi dici tu come č possibile che Wachovia faccia il cavaliere bianco di Morgan Stanley ?

Ed ammesso che questa storia della fusione abbia un fondamento, che roba sarebbe ? Matrimonio deluxe o nozze con i fichi secchi ?

[iuessei1981]

Originalmente inviato da i98mark

Scusami, non voglio fare nč il pessimista ad oltranza, nč il bastian contrario...

Perō Wachovia l'ho seguita ed č profondamente impelagata con gli asset dell'immobiliare. Morgan Stanley non l'ho mai seguita per bene, ma il mercato reputa che abbia molti scheletri nell'armadio...

Ammettiamo siano entrambe malconce... ripeto: su MS non so dire, mi fido del crollo delle quotazioni e vado ad orecchio, ma su Wachovia sė, e hanno seri problemi...

Mi dici tu come č possibile che Wachovia faccia il cavaliere bianco di Morgan Stanley ?

Ed ammesso che questa storia della fusione abbia un fondamento, che roba sarebbe ? Matrimonio deluxe o nozze con i fichi secchi ?

anche io nutro dubbi su questo matrimonio...
non riesco a capire chi sia il bello e chi la bestia.

[mirkx]

Dalla stampa si apprende che la pių interessata sia un fondo sovrano cinese che possiede giā il 6 % della morgan stanley.

[i98mark]

Originalmente inviato da iuessei1981

anche io nutro dubbi su questo matrimonio...
non riesco a capire chi sia il bello e chi la bestia.

Probabilmente sono bestie entrambe...

Ma la mia opinione l'ho espressa qui, al post n. 8....

FORSE Wachovia - Morgan Stanley e Goldman Sachs da sola...

[iuessei1981]

Originalmente inviato da i98mark

Probabilmente sono bestie entrambe...

Ma la mia opinione l'ho espressa qui, al post n. 8....

FORSE Wachovia - Morgan Stanley e Goldman Sachs da sola...

approvo la tua visione.

Se questo matrimonio si farā, credo che MS abbia ragionato in questo modo:
Bernacca ci fa fare la fine di LB, per cui mi sposo una delle figlie (Wacovia) e poi vado a dirgli che non ho casa e andremo a vivere sotto i ponti.
A questo punto il papā si "commuove" e per il bene della figlia (banca commerciale) mette mano al portafogli.