Bof A is not acquiring MER for $29/share. They are offering .8595 of their shares for each share of MER. That puts it in the $17 range. And the spread is because, in today's market, NOTHING is a sure thing!
I don't think BAC wants to acquire MER.
The merger announcement was a desperate measure by FED/BAC to gain some time and the market sees easily through this.
