Posted on 09/14/2008 1:49:47 PM PDT by jimbo123
Bank of America is in advanced talks to buy Merrill Lynch for at least $38.25 billion in stock, people briefed on the negotiations said on Sunday, as a means to preserve that investment bank while Lehman Brothers looks likely to collapse.
A deal, at between $25 a share to $30 a share, could be announced as soon as Sunday night, these people said. Merrill shares closed at $17.05 on Friday.
(Excerpt) Read more at dealbook.blogs.nytimes.com ...
With all of the businesses that B of A is buying up, I have to wonder how their liquidity is holding up....
IMO this is a pure distraction from the LEH BK and a false headline.
Somebody somewhere is gonna come up with a great board game out this weekends’ and next week’s events, kind of like a reverse Monopoly.
That would be quite a premium in this environment. Maybe MER is better off than what most people think.
DJ newswire is now saying Barclay may come back in for LEH, with “Gov’t Guarantees”
With all the dubious lending practices that have contributed to the credit crisis I would have thought that BOA and it’s practice of lending to illegals would have put it at the forefront of banks to go under.
ML, unlike other financial businesses that are purely money-renters, still has a big retail brokerage business. These people are a very powerful asset, capable of generating reliable revenue. The stock brokers call each other “producers.”
Bank of America no longer bidding for Lehman: report
They are probably selling all their crap mortgages to the Fed, remember how the Fed said they were going to buy mortgages at 100% face value?
Very good point.
Well, there’s always this approach:
Well, there’s always this approach:
Bank of Amerilynch? Doesn’t sound quite right.
No one should intervene. Let Lehman fail. Don’t repeat the Bear Stearns nonsense.
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