The coincidence is interesting. Both companies, Google Inc (NASDAQ:GOOG) and Morgan Stanley (NYSE:MS), are in mergers and acquisitions news but this time neither acquiring any entity nor merging with any firm but just shaking up their M&A management.
Internet search company Google is planning to substitute head of its in-house mergers and acquisitions (M&A) unit, David Lawee, with one of its chief lawyers, and place Lawee in an yet to be considered fresh late-stage investment group.
Don Harrison, the chief lawyer at Google, will replace Lawee as head of the company’s mergers and acquisitions group, as reported by Reuters.
Harrison steps in Google in the time when the business has been still in the process of incorporating its purchase of smartphone maker Motorola Mobility Holdings Inc (NYSE:MMI) in a $12.5 billion transaction, which settled in May 2012.
Shares of Google traded higher at $688.93 with the positive change of $4.56 or +0.67% with the total traded shares of 128,477.00 as of 9:55AM EST.
Morgan Stanley’s head of M&A for the Middle East and North Africa (Mena) is reigning, three sources told, the most recent in a string of high-level banking departures from the Gulf area.
Peter Fort, who has been accountable for supervising the US bank’s M&A and restructuring business in the area since early previous year, has stepped down, the sources informed, speaking on condition of secrecy as the issue has not been made public.
Shares of Morgan Stanley exchanged lower at $16.85 with the negative change of $0.10 or -0.59% with the total traded shares of 574,667.00 as of 10:00AM EST.
Turing towards a real merger and acquisition news, Amgen, Inc. (NASDAQ:AMGN) decided to purchase Iceland-based deCODE genetics Inc, which identifies genetic risk factors for dozens of diseases, for almost $415 million.
Shares of Amgen exchanged up at $88.70 with the positive change of $0.39 or +0.44% with the total traded shares of 319,628.00 as of 10:17AM EST.