Morgan Stanley's Waning Crescent
The Wall Street Journal reports: When Richard Rainwater sold Crescent Real Estate Equities Co. to Morgan Stanley for $2.78 billion in the beginning of 2007, some Crescent shareholders complained the price was too low.
Now it looks like Morgan Stanley's shareholders are the ones who should have been griping.
Since the deal closed in August last year, Morgan Stanley has been selling off some of the Crescent properties. It has closed the sale of about $552 million of assets, committed to selling $411 million and offered to sell an additional $1.3 billion.
View the full article on The Wall Street Journal: Morgan Stanley's Waning Crescent
Posted by: Nina Turner