Morgan Stanley to acquire E-Trade in $13B deal

E-Trade Financial Corp. (Nasdaq: ETFC) is set to be acquired by Morgan Stanley (NYSE: MS) in a deal valued at $13 billion.

The all-stock deal will give E-Trade shareholders 1.0432 Morgan Stanley shares for each E-Trade share, or $58.74 based on the closing price of Morgan Stanley common stock Feb. 19, according to a news release.

The move comes after financial management rivals Charles Schwab Corp. (NYSE: SCHW) and TD Ameritrade Holdings Corp. (Nasdaq: AMTD) announced plans to merge in November.…