Report title: Bank of America: "The Big Bank" Daddy Buys Mother Merrill
from CreditSights
2588 word report published Sep 15, 2008

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Abstract: We review strategic rationale and deal terms from BofA deal to acquire Merrill Lynch. Makes sense for BofA in the long term, but short-term pressure on capital could lead to a dividend cut.

Brief Excerpt: Bank of America: "The Big Bank" Daddy Buys Mother Merrill BofA announces acquisition of Merrill Lynch Creates leading franchise in investment banking, retail brokerage, and asset management to complement BofA's national consumer franchise...

Report Type: Company Article
Source: CreditSights Inc
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CreditSights is an independent research platform comprised of a team of analysts with both buy-side and sell-side experience in the U.S. and overseas. CreditSights' research focuses on global corporate and sovereign issuers, which have securities that are actively traded in the corporate bond, credit derivatives and/or equity-linked markets. Sector coverage is broad-based and includes telecom, technology, and media; autos and general industrials; utilities and energy; financial services; commodity cyclicals; retail and consumer products; and aerospace and defense. Emerging markets coverage includes the major Latin American, Asian and Eastern European countries. The focus of CreditSights research is to help investors make decisions by distilling and interpreting significant developments and specific events affecting individual companies, industries, or the securities markets as a whole.
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