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Mitsubishi Takes Half A Page From Buffett's Play(a) Book

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Under the proposed new terms being discussed on Sunday, Mitsubishi would still buy roughly 21 percent of Morgan Stanley, these people said. But all of the investment would be through preferred shares, with a 10 percent annual dividend. Many of those shares would be convertible into common stock, but the Japanese bank was trying to set a conversion price far lower than originally proposed.

Mitsubishi and Morgan Stanley Renegotiating [NYT]