Some answers about the Bank of America/Merrill Lynch merger
Interesting article from the Observer that does a good job answering some questions about the combination going forward.
- Bank of America’s headquarters will remain in Charlotte.
- Merrill approached Bank of America to do the deal, and did not work with any other buyers, worried what the Lehman situation would mean for their own future
- Merrill’s brokerage will keep the Merrill Lynch name.
- Bank of America did the deal now, instead of trying to get a better bargain by waiting for Merrill’s price to fall further, because it didn’t want to risk Merrill surviving on it’s own, or being bought by another firm.
