On May 6, 1982, Morgan Stanley agreed to buy two million shares of ...
Citations (1)
- The House of Morgan - An American Banking Dynasty and the whole source · open book
On May 6, 1982, Morgan Stanley agreed to buy two million shares of AT&T stock at $55.40 a share, $.15 above the current market price. It hoped to resell the entire parcel the next day. This “bought deal” was really a block trade from AT&T to Morgan Stanley with no syndicate to cushion the risk.
chapter: 33. Traders