Morgan Stanley is selling a 6.7% stake in investment manager Invesco. An affiliate of Morgan Stanley sold the Invesco common stock to Morgan Stanley for $21.48 per share. Morgan Stanley then re-offered the shares to the market at $21.75.
Morgan Stanley may offer the stock from time to time in one or more transactions in the over-the-counter market or through negotiated transactions at market prices or at negotiated prices, it said in a press release. Invesco will not receive any proceeds from the offering.
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