Merrill Lynch ended its 94 years of independence when shareholders voted to approve the sale of the nation’s largest brokerage house – with its “thundering herd” of brokers, “Bullish on America” slogan, and all – to Bank of America Corp, Investment News report.
During a special shareholders meeting at company headquarters in New York, Merrill shareholders approved the sale of the company to the Charlotte, N.C.-based bank. Bank of America shareholders then gave a thumbs-up to the acquisition.
European Union antitrust regulators on Friday also cleared the transaction, saying they saw no problems with the takeover. The deal, valued at $50 billion, will create the largest financial services company in the US.
The full story is available at the Investment News web-site.
D.C.