Bank of America Agrees to Buy Merrill

Horrible deal. Financial Mutually Assured Destruction is how I described that merger.

It will put all of Merrills assets and liabilities onto BofA's books, and put BofA in a horribly overleveraged situation. Couple that with Merrills money losing Assets, and this deal is MAD!
 
I'd go one step further and just write off the whole merger on BofA's value. That is, since they paid 48 billion for it, which is 48 billion more than they needed to, that puts BofA 30% lower about.

Warren! This definitely was not forseen that the managers that you have invested with will go crazy and lose you 48 billion on a money losing merger.

Time to get out.
 
What's it going out at, $29? Hope so. I still have 600 shrs of that clunker.

Might make up for my small LEH postion that I just got roasted on... :(
 
Quote from Wayne Gibbous:

What's it going out at, $29? Hope so. I still have 600 shrs of that clunker.

Might make up for my small LEH postion that I just got roasted on... :(
More...

I'm sorry for your loss. Merrill shouldn't be going out anywhere above where it closed at, actually, and I'm sure you, as an investor in Merrill, would feel the same way. Time to end the pain.

Instead BofA just decided to end it for them and move it over to their company, so that they can take the pain. Great move! We'll take your money losing leveraged 10:1 assets and put them on our balance sheet. Yeah, that's going to work.
 
Quote from bonowb:

the stock should technically go up to $29ish, right? can we buy premarket? thanks much.
More...

I'll go easy on you for asking a stupid question. The answer is no. It's already at that price.

If you paid more than $29 for it you'll probably lose.
 
What do you think the odds are that BAC will complete the deal?

If the deal does complete, when would that be?

I'm thinking BAC's market cap should drop precipitously, making the purchase price of MER not anything like $12 over Friday's closing.
 
Quote from Wayne Gibbous:

What's it going out at, $29? Hope so. I still have 600 shrs of that clunker.

Might make up for my small LEH postion that I just got roasted on... :(
More...

You must like to lose money. You just lucked out , cause they need to paint the tape big time.
 
You must log in or register to reply here.
Back
Top