Thain Gets the Job Done at Merrill
We went into the weekend thinking Bank of America (NYSE: BAC) might rescue Lehman Brothers (NYSE: LEH). In a twist that demonstrates how fluid the current environment is, Lehman is out, with B of A announcing it will acquire Merrill Lynch (NYSE: MER) in an all-stock deal valuing the broker-dealer at $29/share or 1.8 times stated tangible book value.
A huge deal
The deal ends the 94-year independence of one of Wall Street's legendary firms and... (more)