BAC shareholders forced to bailout Merrill Lynch

Discussion in 'Wall St. News' started by wilburbear, Sep 14, 2008.

  1. syd697

    syd697

    Is shareholder approval ever needed to get these deals done? Or does the board have that ultimate authority to make these decisions?
     
    #21     Sep 15, 2008
  2. lrm21

    lrm21

    If MER was in such bad shape that they had to move, then they need capital.

    Its all stock but how much money is BAC gonna inject to stabilize this?

    And where is that money coming from.

    I have $50 dollars in my BAC checking account does this mean I own $25 of MER?
     
    #22     Sep 15, 2008
  3. ElCubano

    ElCubano

    no ..this means you are under the minimum and will be charged a $15.00 monthly fee....
     
    #23     Sep 15, 2008
  4. lrm21

    lrm21

    So thats how they're go finance this deal.

    I would expect the $15.00 to go up to $250.00 and minimum balance of $500K. with an 10% early withdrawal.

    This should cover the funding gap.
     
    #24     Sep 15, 2008
  5. eagle

    eagle

    Yep. Dumb price like that should have an independent investigation on the deal. Wall Street doesn't accept that price, current market cap is about $30B, not $50B. And dump BAC to -20%.

     
    #25     Sep 15, 2008
  6. ssblack

    ssblack

    LOL! Funniest thing I've seen all day.
     
    #26     Sep 15, 2008
  7. BAC CEO Lewis's verbal comments at the time of the MER deal misled investors into thinking that the deal could be done without gov't help.

    Lawyers should go back over his public statements from this time period.
     
    #27     Feb 5, 2009