Morgan Stanley, one of two major independent investment banks left on Wall Street, is actively weighing whether to merge with another bank, as its zig-zagging stock price could scuttle its plan to stay independent, according to unidentified sources. CEO John Mack is wary of repeating the fate of Lehman Brothers, which rejected several takeover offers before being forced into bankruptcy. (CNBC)
The bottom line
September 17, 2008
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