Merrill Deal Creates Huge Gains, Some Risks For BofA

Law360, New York (September 15, 2008, 12:00 AM EDT) -- Bank of America's stunning announcement that it would acquire Merrill Lynch & Co. Inc. in a $50 billion all-stock transaction just two months after it finished its purchase of beleaguered mortgage lender Countrywide Financial Corp. creates some legal risks, but may pay off for the commercial bank.

Bank of America announced Monday that it was going to acquire Merrill in a stock transaction for about $29 a share, which is about half the investment bank's peak value a year and a half ago. However, the offer...
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