Merrill (MER) To Take Another $5B Writedown, May Sell Bloomberg Or BlackRock Stake

CNBC is reporting that Merrill Lynch (MER) will likely take another writedown of between $3 and $5 billion, citing sources inside the company. CNBC:

The expected writedowns are likely to heighten the pressure on Merrill Lynch CEO John Thain and could threaten his credibility. If Merrill needs to raise cash, Thain has only a few options in front of him, which include buying or merging with a bank, selling Merrill’s stake in Bloomberg or BlackRock, or selling stock to raise capital.


Business Insider Emails & Alerts

Site highlights each day to your inbox.

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