Bank of America to acquire Merrill Lynch?
September 15th, 2008 Leave a comment Visited 18 times, 1 so far today
Bank of America to acquire Merrill Lynch?
Market reports point towards this major news happening right now.
Apparently, Bank of America has agreed to buy Merrill Lynch.
The deal is said to be worth close to around $44 billion. This valuation comes to around $29 a share.
The two companies have declined to comment on this rumor in the market for the time being.
Merrill Lynch is the biggest and most popular brokerage in the world. Bank of America on the other hand has the most deposits of any US bank in the country.
Ladenburg Thalmann analyst Richard Bove spoke about the possibility of this deal happening: “For Bank of America to step in and offer a premium strikes me as being imprudent. Bank of America could get a much better deal if they just sat and waited.”
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