Morning Scan: ValueAct Buys Stake in Morgan Stanley; AIG Selling Uni...

Receiving Wide Coverage ...

ValueAct buys Morgan Stanley stake: The activist hedge fund ValueAct Capital Management said it has bought a 2% stake, valued at about $1.1 billion, in Morgan Stanley, but said it is not looking for the bank to make major changes. "We are completely supportive of [Morgan Stanley CEO James] Gorman and impressed by his leadership over the past six years," ValueAct founder Jeff Ubben told the Financial Times. ValueAct said the market...