Morgan Stanley to get $375 million termination fee if E*Trade walks away from deal
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(Reuters) - Morgan Stanley will receive a $375 million (289 million pounds) breakup fee if E*Trade Financial Corp walks away from its $13 billion deal for the discount brokerage, the U.S. bank said on Friday. On Thursday, Morgan Stanley entered into a deal to buy E*Trade, the biggest acquisition by a major Wall Street bank since the 2007-2009 financial crisis.E*Trade has been the subject of M&A speculation for some time, especially after Charles Schwab Corp said it would buy TD Ameritrade..