Bank of America - Valerie Bodden Kluge 10-0014 General...

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Valerie Bodden Kluge 10-0014 General Business Management September 16, 2009 Find an example of a merger or acquisition between two companies. How was it accomplished, why did it work? “Bank of America Buys Merrill Lynch Creating Unique Financial Services Firm Combines leading global wealth management, capital markets and advisory company with largest consumer and corporate bank in U.S. CHARLOTTE (September 15, 2008) -- Bank of America Corporation today announced it has agreed to acquire Merrill Lynch & Co., Inc. in a $50 billion all-stock transaction that creates a company unrivalled in its breadth of financial services and global reach. "Acquiring one of the premier wealth management, capital markets, and advisory companies is a great opportunity for our shareholders," Bank of America Chairman and Chief Executive Officer Ken Lewis said. "Together, our companies are more valuable because of the synergies in our businesses." "Merrill Lynch is a great global franchise and I look forward to working with Ken Lewis and our senior management teams to create what will be the leading financial institution in the world with the combination of these two firms," said John Thain, chairman and CEO of Merrill Lynch. Under terms of the transaction, Bank of America would exchange .8595 shares of Bank of
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This note was uploaded on 08/09/2011 for the course BUS 101 taught by Professor Shindell during the Spring '09 term at Universidad Iberoamericana.

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Bank of America - Valerie Bodden Kluge 10-0014 General...

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