Morgan Stanley’s deal to acquire Eaton Vance isn’t a steal. It still might prove to be a very good business decision. The timing of the transaction is interesting: Morgan Stanley said it has been looking at this deal for several years, and Eaton Vance wasn’t trading at a huge discount to where it has been over that period of time -- only 5% below its five-year average share price as of Wednesday.

Source: Wall Street Journal October 12, 2020 09:56 UTC