• Most Popular
  • Most Shared

BofA-Merrill deal to close in 3-4 months: report

NEW YORK
Sun Sep 14, 2008 10:06pm EDT

NEW YORK (Reuters) - The sale of Merrill Lynch to Bank of America is expected to close within three or four months, CNBC reported Sunday.

Deals  |  Housing Market

Merrill Lynch's board of directors voted unanimously to close the deal, according to CNBC.

Merrill CEO John Thain and Bank of America CEO Ken Lewis are to present the deal in conference call and news conference, CNBC reported. Thain's role in the merged company is still undetermined.

The Merrill Lynch name may only be preserved in private wealth business, according to CNBC.



More from Reuters

Photo

Senate on track to pass healthcare bill

WASHINGTON (Reuters) - Senate Democrats moved closer on Monday to passing landmark healthcare legislation by Christmas after scoring a win in the first big test vote and gaining the support of a powerful lobbying group for doctors. | Video

Photo

Political risk clouds Asia

The economic outlook is strong, but the danger of a sudden correction hangs over Asian markets - as political risks could turn sunshine to storm clouds in the blink of an eye.  Full Article 

Two men shake hands in a file photo.    REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article