Report: Department of Justice Approves Morgan Stanley Acquisition of E*Trade Financial

The acquisition of online brokerage E*Trade Financial (NASDAQ: ETFC) by white-shoe investment bank Morgan Stanley (NYSE: MS) has won approval from its most critical regulator. According to a report in Bloomberg citing "a person familiar with the matter," the U.S. Department of Justice's antitrust division has signed off on the deal without mandating any changes to it.

The DOJ has not officially commented on the story, nor has E*Trade or Morgan Stanley.

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Source Fool.com