Sunday, August 9, 2009

B of A and Merrill Lynch

DealBook, the New York Times affiliated service that follows M&A, venture capital, and hedge funds in a blog-like format, has risen to the defense of Kenneth Lewis, the Chief Executive of Bank of America.

Lewis' critics complain that he pressed for B of A's acquisition of Merrill Lynch, while withholding crucial information from shareholders on what it would cost them. The Securities and Exchange Commission shares this view.

But DealBook quotes at length from Richard X. Bove, of Rochdale Securities, who believes shareholders have benefitted from the deal.

I'll leave it there.

1 comment:

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