Mitsubishi UFJ Financial Group Inc makes statement about transaction with Morgan Stanley

Oct 09, 2008 (M2 EQUITYBITES via COMTEX) -- MS | Quote | Chart | News | PowerRating -- Mitsubishi UFJ Financial Group Inc (NYSE: MTU | Quote | Chart | News | PowerRating) (MUFG), a provider of financial services to retail and corporate customers, issued a statement yesterday (8 October) in response to the rumours regarding the company's proposed investment and alliance with Morgan Stanley. MUFG stated that though it does not follow a policy of answering rumours, nevertheless it affirms that there is no basis for the same. MUFG looks forward to completing the transaction and realising the benefits of the strategic alliance.

The Federal Reserve approved the transaction on 6 October 2008, subject to a mandatory five-day waiting period prior to closing. The company expects the closing of the transaction to occur on the first banking day in New York and Tokyo after the end of this period, 14 October.

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