BofA Gets $20B More In Bailout Funds

Law360, New York (January 16, 2009, 12:00 AM EST) -- Bank of America Corp. has secured a $20 billion deal with the U.S. government to obtain yet another injection of federal aid in addition to the $25 billion it has already received in order to assist with its acquisition of Merrill Lynch & Co.

The Charlotte, N.C.-based bank said Friday that the U.S. government had agreed to assist in the Merrill acquisition by forking over the additional $20 billion “in view of the continuing severe conditions in the markets and economy.”

In addition, Bank of America...
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