Sep 14, 2008
Bank of America agrees to buy back Merrill Lynch
The first U.S. bank in terms of deposits, Bank of America, agreed to buy the investment bank Merrill Lynch for about $ 50 billion (34.6 billion euros), thus saving the first brokerage in the world of bankruptcy, announced a person close to the negotiations.The Bank of Charlotte, North Carolina, holds the largest number of deposit accounts of the USA. Combining the two issues one of their specialty gives birth to a new banking giant, able to compete with the first bank of the USA by market capitalization, Citicorp
by erectusplus at 9:22 PM |
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