Merrill Lynch Said to Be in Merger Talks With Bank of America (BofA)

September 14, 2008 by · Leave a Comment
Filed under: Industry News 

This situation is becoming more acute as we proceed.  We have a general situation that has a flight of capital to safer alternatives and a contraction of credit in an inflationary environment.  There are many more hidden surprises that will be brought to light during the next few years.  Hopefully the market will continue to be somewhat orderly manner.

Statement:

Merrill Lynch & Co., the third- biggest U.S. securities firm, is in merger talks with Bank of America Corp., people with knowledge of the negotiations said.

 The discussions came as Merrill’s smaller rival Lehman Brothers Holdings Inc. moved closer to filing for bankruptcy after Barclays Plc and Bank of America abandoned talks to buy the investment bank and Wall Street prepared for its possible liquidation.

Bank of America spokesman Scott Silvestri declined to comment on Merrill. “We don’t comment on speculation,” said Bank of America spokesman Bob Stickler.

Source: Bloomberg

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