Morning Scan: Morgan Stanley M&A Drama; Don't Cry for Argen...

Receiving Wide Coverage ...

Allergan Case Reveals Morgan Stanley M&A Switch-Up: As drug company Allergan defends itself against a $53 billion hostile takeover bid from Valeant Pharmaceuticals, it is shedding light on Morgan Stanley's mergers and acquisitions practices. Allergan, the Irvine, Calif. Maker of Botox, has published excerpts from emails written by senior Morgan Stanley investment bankers that it says show Valeant's business model is unsustainable, the New York Times reports. Morgan Stanley is now advising...