BREAKING NEWS: Morgan Stanley Talking Merger Possibility with Wachovia

In the latest in the Wall Street crisis, Morgan Stanley, one of the two last major American investment banks, is considering a merger with the Wachovia Corporation or another bank, according to people briefed on the discussions. 
 
Morgan Stanley's chief executive, John J. Mack, received a telephone call on Wednesday from Wachovia expressing interest in the Wall Street bank. Morgan Stanley is considering other options as well. Other banks have also expressed interest in Morgan Stanley. 
 
The talks are preliminary and no deal may emerge. Wachovia declined to comment.

Published on September 17, 2008