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FINANCE
First Data may buy Concord EFS
The payment services firm is in talks to buy transaction processor Concord EFS for $7 bil in stock, sources said. First Data will likely offer $14.50-$15 a share sometime this week. First Data fell 6% to 34.68; Concord rose 26% to 11.87.
Morgan Stanley fund sales shady
The SEC and NASD are probing if the investment bank's brokers have inappropriately touted B-fund shares, which have higher annual fees, to their clients, published reports said. The NASD investigation focuses on a few brokers at a handful of Morgan Stanley branches. The SEC probe is broader.
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