Bank of America buys Merrill Lynch
September 14, 2008 by Tisa Silver
Filed under Finance
Wall Street has gone mad this weekend!
While everyone was focusing on Lehman’s desperate search for a buyer, who knew Merrill Lynch was for sale?
A word of advice for this market, particularly banks: everything is for sale.
Bank of America has agreed to buy Merrill Lynch for $44 billion. This deal equates to roughly $29 per share. Merrill Lynch closed at $17.05 on Friday.
The premium will ensure that at least one bank will open higher tomorrow.
OMG. I know right? This is so going under control