Bank of America Mergers and Acquisitions Summary

Financial ServicesCompany

Bank of America has acquired 12 companies, including 1 in the last 5 years. A total of 2 acquisitions came from private equity firms. It has also divested 17 assets.

Bank of America’s largest acquisition to date was in 2008, when it acquired Merrill Lynch Wealth Management for $50.0B. It’s largest disclosed sale occurred in 2009, when it sold Columbia Management Investment Advisers to Ameriprise Financial for $1.0B. Bank of America has acquired in 8 different US states, and 2 countries. The Company’s most targeted sectors include financial services (75%) and information technology (17%).

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M&A Summary

  • M&A Total Activity29
    • M&A Buy Activity12
    • M&A Sell Activity17
  • Total Sectors Invested 3
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 22
  • M&A Advisors 5

Bank of America

Bank of America Corp.

Bank of America Corporate Center 100 North Tryon Street,
Charlotte, North Carolina 28255
United States,
(704) 386-5681
www.bankofamerica.com

Bank of America is a financial services institution serving individual consumers, small- and middle-market businesses, institutional investors, large corporations and governments with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America was incorporated in 1784 and is headquartered in Charlotte, North Carolina.


M&A Summary

Buy vs Sell

Year ≤ '18 '19 '20 '21 '22 '23 T
Buy (0.2/yr) # 11 - - 1 - - 12
vol $156.7B $156.7B
Sell (0.0/yr) # 17 - - - - - 17
vol $2.7B $2.7B
  29

Most Recent M&A

Company Date Value Type
Axia Technologies LLC 2021-04-02 - Add-on Acquisition
Santa Barbara, California · www.axiamed.com
Bank of America Corp. - Alternative Investment Feeder Fund Operations 2018-09-18 - Divestiture
Charlotte, North Carolina
MBNA Ltd. 2016-12-20 - Divestiture
Chester, United Kingdom · www.mbna.co.uk
Bank of America - 24 Michigan Branches 2014-09-16 - Divestiture
, Michigan
13 Michigan branches - Bank of America 2014-05-14 - Divestiture
, Michigan
11 branches Central & East Michigan - Bank of America 2014-04-09 - Divestiture
, United States
Bank of America - 23 Retail Branches 2014-01-24 - Divestiture
, United States
Bank of America Corp. - 20 Retail Bank Branches 2013-07-24 - Divestiture
, United States
Bank of America Corp. - Northeast Pennsylvania Branches 2013-07-24 - Divestiture
, Pennsylvania
Bank of America CMBS Servicing Portfolio 2013-05-09 - Divestiture
, United States
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Merrill Lynch Wealth Management    - Elan d.o.o. 2018-12-24 1
New York, New York · www.ml.com Begunje na Gorenjskem, Slovenia · www.elanskis.com
Merrill Lynch Wealth Management    - First Franklin Financial Co, Inc. 2006-09-05 2
New York, New York · www.ml.com San Jose, California
Merrill Lynch Wealth Management    - Pax Clearing Corp. 2005-04-29 1
New York, New York · www.ml.com Chicago, Illinois · www.paxclearing.com

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 9 (75%) 156.7B (100%) 15 (88%) 1.6B (60%)
Information Technology 2 (17%) - - -
Manufacturing 1 (8%) - 1 (6%) 451M (17%)
Real Estate - - 1 (6%) 615M (23%)
Total 12 $156.7B 17 $2.7B

By Geo

State/Country Buy Value Sell Value
United States 11 156.7B 15 2.2B
  California 3 4.0B - -
  Massachusetts 1 47.0B 2 1.6B
  New York 2 53.3B - -
  Michigan - - 2 -
  Kentucky 1 1.4B - -
  Illinois 1 16.0B - -
  Georgia 1 - - -
  Delaware 1 35.0B - -
  Pennsylvania - - 1 -
  Oregon - - 1 -
  North Carolina - - 1 -
Germany 1 - 1 451M
United Kingdom - - 1 -
Domestic 11 (92%) 156.7B (100%) 15 (88%) 2.2B (83%)
Cross-border 1 (8%) - 2 (12%) 451M (17%)
Total 12 $156.7B 17 $2.7B

Top M&A Advisors

Financial Deals
Bank of America Merrill Lynch (BofA Securities)
2
Keefe, Bruyette, & Woods, Inc.
1
Legal Deals
Cleary Gottlieb Steen & Hamilton LLP
2
Wachtell, Lipton, Rosen & Katz LLP
1
K&L Gates LLP
1

Deal Values

buy # Total
> $1B 7 $156.7B
TOTAL $156.7B
Largest Merrill Lynch Wealth Management
$50.0B (2008-09-15)
sell # Total
> $1B 1 $1.0B
$100M to $1B 3 $1.7B
TOTAL $2.7B
Largest Columbia Management Investment Advisers, LLC
$1.0B (2009-09-30)

M&A Connections

Deals
Acquired from
Investor(s)
17%
2 (17%)
Strategic(s)
25%
3 (25%)
Divested to
Investor(s)
6%
1 (6%)
Strategic(s)
94%
16 (94%)

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