Merrill Lynch has been acquired by Bank of America |
News - Financial News | |||
Written by Hugh McManus | |||
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Merrill Lynch [NYSE:MER], one of the largest consumer brokerage houses in the world, has been acquired by Bank of America [NYSE:BAC]. The deal, which is a pooling of interest, a merger, is being priced at $29 per share of $44 billion. The deal is surprising in that Merrill Lynch has been more aggressive than most in writing down non-performing assets. The stock closed at $17.05 on Friday down from it's 52-week high of $78.66.
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