IBM (IBM) – IBM said it would spin off the managed infrastructure services unit of its global technology services division into a separate public company, to allow it to focus on its hybrid cloud growth strategy. The spin-off will be accomplished through a tax-free distribution to IBM shareholders.
Eaton Vance (EV) – The investment firm agreed to be acquired by Morgan Stanley (MS) for $56.50 per share in cash and stock, for a total value of about $7 billion. The news comes just a few days after Morgan Stanley completed its acquisition of E*Trade Financial.