Shareholders have approved the merger of Dean Witter, Discover & Co. and Morgan Stanley Group Inc.
The $9.4 billion deal, announced in February, is expected to be completed this week. Analysts said the combination of Morgan Stanley's institutional clout with Dean Witter's retail network could create a fearsome competitor.
Eighty-seven percent of Dean Witter's shareholders voted for the merger, and 83% of Morgan Stanley's shareholders gave the thumbs up in separate meetings Wednesday.
The combined entity, to be named Morgan Stanley, Dean Witter, Discover & Co., will have market capitalization of about $21 billion, based on February share prices.