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Bank of America Corporation (BAC) Buying Merrill Lynch & Co., Inc. (MER) For $29, World Not Over…Yet

Posted by Timothy Sykes on Sun 14th of Sep, 2008 09:36:04 PM

As the WSJ is reporting HERE…this is an aweome deal for BAC–they get massive customers and prestige galore at a discount price…like finding an amazing deal at Century 21. And, of course, a smack in Merrill’s arrogant face, they needed rescuing, like the lil bitches they are.

See all the deal updates HERE. Dealbreaker, by way of hard work Carney, also has more great updates HERE.

As for Merrill, this is necessary to avoid becoming the next Bear/Lehman.

As for this joke an industry, just the latest surprise development that proves these guys should not be looked up to, they should be laughed at, looked after and spit on. (Damn, it feels dumb to be a banker)

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Tags: ,

  • Drew
    This is awful
  • Nick. E
    Thanks, Tim!
  • stock acquisiton,
    BAC is down, others dont think deal will go through
  • Nick E.
    Hey Tim,

    Pardon my dumb question but do you know why MER is not trading at or even near its buyout price ($29/share)? Is it because they still have undisclosed debt or what? Thanks!
  • lmsmith
    Nice website----

    I love sitting on the sidelines and watching this chaos--- Shorts got screwed on MER, and longs got screwed on LEH respectively-- this market never seize to amaze me...... got to love it...
  • Financials bouncing back strong from there gap down this morning lots of gap day trading opportunities here :)
  • AP
    New website is 1000% better... the old website gave me a headache. two thumbs up.
  • younggunz
    One thing you can change Pallian is make the bar where the poster's name is a little darker so we can see a break between posts better. Should be a quick and painless tweak. The submit button is the same. If I'm not look at my screen at the perfect angle it blends with the background.
  • leo00o83
    Thank god I didn't buy LEH.

    Question is, how in the world could BOA afford MER if they already bought CFC and all its bottomless pit full of debt. Also interesting how MER were all too quick to deny on CNBC allegations that there was no "hurrying" to sell themselves.

    Oh and AWESOME site upgrade timmay, looks sharp and smooth.
  • direhack
    Ebay link <-- good one!!

    Hey Tim, no TIMAlerts tonight?
  • chatoq
  • it doesnt martter for us pennysotckers but its fu n tos ee LEH just filed for bankrupcty:

    http://www.marketwatch.com/news/story/lehman-go...
  • Michele
    BAC should've waited another week. They could've gotten MER at a much cheaper price. Merrill Lynch has some toxic stuff on their balance sheet. BAC is a good short candidate now. Oppenheimer's Whitney now comes out and says the financials will all tank BIG the next few days.
  • younggunz
    New site looks nice. Will take some time to get used to.
  • Jason
    Website is looking nice TIM, congratulations on all your success...What is the TIM RAW DVD gonna consist of?
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