Message #124 From:
Stock News Bot Date: October 8, 2008 06:37:48 AM
MUFG Issues Statement Regarding Transaction with Morgan Stanley
Mitsubishi UFJ Financial Group, Inc. (“MUFG”)
(NYSE:MTU) today issued the following statement:
“We have been made aware of rumors to the
effect that MUFG is seeking not to close on our proposed investment in,
and strategic alliance with, Morgan Stanley (NYSE:MS stock). Our normal policy
is not to comment on rumors. Nevertheless, we wish to state that there
is no basis for any such rumors. The Federal Reserve approved the
transaction on October 6, 2008, subject to a mandatory five day waiting
period prior to closing. We expect that the closing of the transaction
will occur on the first banking day in New York and Tokyo after the end
of that waiting period, which is Tuesday, October 14. MUFG is looking
forward to completing the transaction and realizing the benefits of our
strategic alliance.”
About MUFG
MUFG is one of the world’s leading financial
groups, with total assets of more than ¥190
trillion (approximately $1.8 trillion) as of March 31, 2008. MUFG’s
services include commercial banking, trust banking, securities, credit
cards, consumer finance, asset management and leasing. The Group’s
operating companies include BTMU, Japan’s
largest commercial bank, Mitsubishi UFJ Trust and Banking Corporation,
Japan’s leading trust bank, and Mitsubishi UFJ
Securities, one of Japan’s largest securities
firms. For more information about MUFG, please visit www.mufg.jp/english/about
Cautionary Statement Concerning Forward-Looking Information
This press release contains forward-looking statements such as “expects,”
“looking forward”
and other similar words regarding the current expectations of MUFG. Such
forward-looking statements are not guarantees of future performance or
events and involve risks and uncertainties. Actual results may differ
materially from those described in such forward-looking statements as a
result of various factors. MUFG does not undertake any obligation to
update the forward-looking statements contained herein, or to update the
reasons why actual results could differ from those projected in the
forward-looking statements.
For Mitsubishi UFJ Financial Group, Inc.: Jim Barron/Kara
Findlay/Nicole Tolmie, 212-687-8080 ntolmie@sardverb.com or Citigate
Dewe Rogerson Michael Berkeley, +44-(0)20-7282-2883
