Editor's note: Our "On the Brink" series will provide daily insight into the financial firms facing capital shortfalls and the growing pressure from short sellers in the market.
Bank of America (BAC Quote) Chairman and CEO Ken Lewis is calling the $44 billion acquisition of Merrill Lynch (MER Quote) the "deal of a lifetime," but the merger of the two powerhouses is not without challenges.
Bank of America and Merrill formally announced the stock-for-stock swap early Monday morning. The deal creates a mammoth organization in which BofA will become the largest brokerage in the world with more than 20,000 advisers and $2.5 trillion in client assets. Merrill's strengths will also bring expertise in global debt underwriting, global equities and global M&A advisory to BofA.
...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,464.40 | 1,110.63 | 2,176.05 | 32.79 |
Oil *
77.05
|
|
UP
30.69
|
UP
4.98
|
UP
6.87
|
DOWN
0.38
|
10 Yr
3.28%
SPDR Gold
116.62
|
|
+0.29%
|
+0.45%
|
+0.32%
|
-1.15%
|
Data delayed 20 minutes |
Connect with TheStreet