Premium for ML???
Why is BAC paying a premium on ML? shouldn't they have waited a few weeks and bough ML at a much cheaper price? i'm just curious...
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By then Merrill would have found another buyer. They were pimping the firm out to several others this weekend, BofA was just the first to pull the trigger.
For some reason, ML did not want to face tomorrow under their own banner UNDER ANY CIRCUMSTANCES. Makes you wonder.
BoA specific synergies could also justify the premium. For example, the acquisition adds ML's lucrative thundering heard of private wealth managers, Asset Management stake in BlackRock, and generally better brokerage and Ibanking services. Also, this is an all stock deal, so theoretically if the market thinks BoA overpaid for ML, BoA's stock price should drop lowering the ultimate acquisition price.
www.sharpeinvesting.com
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