Tag: mufg

The Japan franchise of the elite US investment bank looks set to be absorbed by the country's largest bank. The re-capitalisation plan comes as share prices continue to plunge and follows the Japanese bank's own $9 billion capital injection into Morgan Stanley. The Japanese bank insists on all preferred stock and a lower conversion price than earlier agreed, but the capital injection goes through, prompting an 85% rally in Morgan ... In its search for strategic growth, Japan's largest financial group accepts financial terms that are less attractive than those on Buffett's recent investment in Goldman Sachs. Mitsubishi UFJ Financial Group will buy the 35% equity interest in UnionBanCal Corp which it does not currently own for an outlay of $3.5 billion, in a deal analysts find ...