Is shareholder approval ever needed to get these deals done? Or does the board have that ultimate authority to make these decisions?
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?
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.
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%.
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.