Morgan Stanley still shopping, buys Eaton Vance for $7B

NEW YORK (AP) — Morgan Stanley is buying Eaton Vance in a deal valued at about $7 billion. Eaton Vance shareholders will receive $28.25 per share in cash and 0.5833 of Morgan Stanley common stock, or approximately $56.50 per share. Based on the $56.50 per share, the amount paid to Eaton Vance shareholders will consist of about 50% cash and 50% Morgan Stanley common stock. The deal is expected to close in the second quarter of next year.