Merrill Lynch Bank of America

A merger between Merrill Lynch and Bank of America is in negotiations, and both companies agreed on a price on September 14, 2008: Merrill Lynch will sell to Bank of America for $44 billion, at $29 per share. This large merger will expand Bank of America's influence into nearly every area of American finance, and additionally will strengthen its hand internationally.¹

Fast Facts

1. Merrill Lynch agreed to sell to Bank of America for $44 billion
2. Merrill Lynch has a far stronger investment bank than Bank of America²
3. Will greatly expand Bank of America's influence
4. Price agreed upon Sunday September 14, 2008
5. Merrill Lynch CEO: John Thain
6. Bank of America CEO: Ken Lewis
7. Merrill Lynch stock had dropped to $17.05 on Friday
8. Drop was attributed to Lehman Bankruptcy¹
9. Bank of America will directly compete with Citigroup²
10. Citigroup has largest assets of any American bank²

Bank of America Post-Merger Influence

1. Credit cards
2. Auto loans
3. Bond and stock underwriting
4. Mergers
5. Wealth management
6. Greater influence in "emerging countries"¹

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Related Pages on Mahalo

Merrill Lynch | Bank of America | Lehman Bankruptcy | Merrill Lynch Reports 3Q Loss | Merrill Lynch Write-Down | Merrill Lynch Stock Quotes | How to Buy Stocks | Bank Of America Foreclosures | Bank of America Buys Countrywide | Ken Lewis

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