Morgan Stanley, a global financial services firm, completed the acquisition of E*TRADE, a provider of online brokerage and financial services, for $13bn. Under the terms of the agreement, E*TRADE stockholders received 1.0432 Morgan Stanley shares for each E*TRADE share, which represents per share consideration of $58.74 based on the closing price of Morgan Stanley common stock on February 19, 2020. "The addition of E*TRADE positions us as an industry leader in Wealth Management across all channels and segments and significantly increases the scale and breadth of our Wealth Management franchise, which now oversees $3.3tn in assets. The addition of their premier offering will provide enhanced capabilities to all our clients and Financial Advisors,” James P. Gorman, Morgan Stanley Chairman and CEO.