According to various news outlets, Bank of America reached a deal to buy Merrill Lynch for $29 a share. At $44 billion, Merrill would be sold at about two-thirds of its value of one year ago, and half its all-time peak value of early 2007.
The two financial giants were first reported to be in talks about a possible merger by the Wall Street Journal yesterday. The merger agreement was confirmed in an article in today’s on-line journal.
Bank of America had considered buying... Read More