BofA To Get Billions More In Bailout Funds: Report

Law360, New York (January 15, 2009, 12:00 AM EST) -- Bank of America Corp. is reportedly close to securing a deal with the U.S. government to obtain yet another multibillion-dollar injection of federal aid to assist with its acquisition of Merrill Lynch & Co.

Bank of America has already received $25 billion in bailout funds, but it likely will be unable to complete its buyout of Merrill without federal assistance, the Wall Street Journal reported late Wednesday, citing unnamed sources familiar with the discussions the bank has been having with government officials.

The U.S. Department of...
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