Morgan Stanley's offer for Solium Capital is fair, Haywood says

Morgan Stanley to buy Canadian employee stock manager Solium for $1.1 billion — a 43% premium

Morgan Stanley agreed to buy Solium Capital Inc.in a bid to add younger clients and tech startups to its stock-plan administration business.

Morgan Stanley wants Solium to complement its workplace wealth management business, helping it to capture millennials on the plans that have a good chance of getting rich and therefore needing to move to advisor-based relationships.

The deal will allow Morgan Stanley to attract young salaried workers, who after they sign up on Solium to manage their stock options, can eventually choose the bank's investing and virtual adviser channels, as they build their wealth, or when their investing needs arise.

Marcos Lopez, CEO of Solium, will remain with the company and be based in Calgary.

A news release on Monday stated that Morgan Stanley will acquire all of the issued and outstanding common shares of Solium, subject to the approval of the Solium shareholders.

"Most people's money is coming through their workplace, so it's an obvious place for us to be", Morgan Stanley chief executive James Gorman said in a statement. From offices in the United States, Canada, the United Kingdom, Europe and Australia, Solium's innovative software-as-a-service (SaaS) technology powers share plan administration and equity transactions for more than 3,000 corporate clients with employee participants in more than 100 countries.

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