Morgan Stanley buying Eaton Vance in deal valued at 7bn dollars

Morgan Stanley is buying Eaton Vance in a deal valued at about seven billion US dollars (Mark Lennihan/AP)

Morgan Stanley is buying the investment management firm Eaton Vance in a deal valued at about seven billion US dollars (£5.4bn)

Eaton Vance, based in Boston, has over 500 billion dollars (£387bn) in assets under management.