Bank of America (BAC) Shareholders Wake Up: We Overpaid For Merrill (MER)

As Merrill (MER) shareholders, we’re glad to see the firm get every penny it can get for itself…but we’re still mystified as to why Bank of America (BAC) paid $29 a share.  Given Merrill’s $17 closing price and the Lehman debacle, it seemed likely that Merrill’s share price would have approached $10 today.

Thanks to the collapse of Bank of America’s stock this afternoon, of course, Merrill’s stock is getting there. BAC’s down 20%. And MER is now only a couple of dollar above where it closed on Friday.

See Also:
Ken Lewis’s Ringing Endorsement of Merrill: It Might Have Survived
Bank of America Crushed On Bizarrely High Merrill Bid

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.