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World's Strongest Banks: Mitsubishi UFJ Financial Group

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World's Strongest Banks: Mitsubishi UFJ Financial Group

Japan's biggest financial group, Mitsubishi UFJ, has lined up a $9 billion deal to take a 21% stake in Morgan Stanley. Since the news of the deal first broke last month, both banks' stock prices have plummeted, but the Japanese bank insists that the deal, which is set to close later this month, will go ahead. On Oct. 3, Mitsubishi UFJ, which is also turning its Union Bank of California arm into a wholly owned subsidiary, said it would take a 9.9% stake in British investment manager Aberdeen Asset Management for $400 million.