In a rushed bid to ride out the storm sweeping American finance, Merrill Lynch reached a deal to sell itself to Bank of America for roughly $44 billion.
At $44 billion, or roughly $29 a share, Merrill would be sold at about two-thirds of its value of one year ago, and half its all-time peak value of early 2007. Merrill shares changed hands at $17.05 each on Friday, after falling sharply in the wake of Lehman's looming demise.
Source: WSJ
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Merrill closed at $17 on Friday and got bought out at $29 ....Hmmmm
Merrill's John Thain pulled through a very good deal
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