German software group SAP said on Saturday that JP Morgan had advised it on its $3.4 billion acquisition of U.S. cloud-computing software company SuccessFactors. Morgan Stanley was the adviser to SuccessFactors, a spokesman for SAP also said.
Morgan Stanley is a global financial services firm that, through its subsidiaries and affiliates, provides its products and services to a group of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 6.96% or $1.01/share to $15.52. In the past year, the shares have traded as low as $11.58 and as high as $31.04. On average, 35945900 shares of MS exchange hands on a given day and today's volume is recorded at 52525040.
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