Goldman Sachs decided to pass on E-Trade before Morgan Stanley snatched it up, sources say

Goldman Sachs decided to pass on E-Trade before Morgan Stanley snatched it up, sources say

Goldman Sachs had plenty of chances to make an offer for discount brokerage E-Trade before rival Morgan Stanley made its $13 billion move, but the bank didn’t throw its hat in the ring, according to people with knowledge of the situation.

Morgan Stanley CEO James Gorman acted as his bank’s dealmaker-in-chief when he approached E-Trade in December with an offer, according to the people. With…

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