At an analyst call to discuss the deal, the CEO said Morgan Stanley had been looking at the deal for "several years". Gorman also ruled out the likelihood of further acquisitions. "We're not doing more acquisitions, we've made our bed, we're going to lie in it." Eaton's shareholders will receive $28.25 per share in cash and 0.5833 Morgan Stanley shares for each share held. The deal represents a premium of 38% to Eaton's last closing price on Wednesday. Eaton's shares jumped 36.3% to $55.79, while Morgan Stanley was down 2.6% in premarket trading.