Bank of America completes purchase of Merrill Lynch
Bank of America has announced that they have now completed their acquisition of Merrill Lynch.
The deal has now created the largest U.S. Bank.
Bank of America now has about $2.7 trillion of assets which makes it larger than both JPMorgan Chase and Citigroup.
Bank of America also gets access [...]
Merrill Lynch Vice Chairman Jeffrey Edwards leaving the company
News media company Bloomberg has reported that Merrill Lynch Vice Chairman Jeffrey Edwards will leave the bank in January.
The report cited information from an internal memo that is being circulated by the bank.
The memo has President Greg Fleming announcing that he is leaving the bank next [...]
Bank of America to cut around 30,000 jobs
Bank of America has announced that they would be cutting between 30,000 and 35,000 jobs over three years.
This is largely due to their recent acquisition of Merrill Lynch.
This job cut is going to affect about 11% of the merged entity which has around 308,000 employees.
Bank of America [...]
Coke, IBM and Microsoft are the most valuable brands in the world
Interbrand, a global brand management firm has released their latest annual Global Brand List.
Coke has topped the charts once again. However there is a new player on the second spot.
IBM has displaced Microsoft to take that spot. Microsoft comes third.
As per the list, [...]
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 [...]
Textron Reaches Agreement to Acquire United Industrial Corporation
Acquisition provides superb strategic fit and growth potential
In a move to extend core capabilities in its aerospace and defense business, Textron Inc. (NYSE: TXT) today announced that it has reached a definitive agreement to acquire United Industrial Corporation (NYSE: UIC) in a cash transaction valued at [...]
Merrill Lynch and Citigroup picks up a stake in MCX
Merrill Lynch and Citigroup have announced that they have separately taken a 5% stake in the MCX commodity exchange.
These two deals have put the value of the exchange at around USD 1 Billion. The stake has been sold by Financial Technologies (FTIL).
Merrill is said to [...]
Merrill Lynch and First Republic Bank Successfully Close Merger; Final Results of Election Regarding Merger Consideration Announced
Merrill Lynch & Co., Inc., (NYSE: MER) announced that today it completed the merger of First Republic Bank with and into Merrill Lynch Bank & Trust Co., FSB, a wholly-owned subsidiary of Merrill Lynch. As [...]
