M&A Deal Summary

Bank of America Acquires Merrill Lynch Wealth Management

On September 15, 2008, Bank of America acquired financial services company Merrill Lynch Wealth Management for 50.0B USD

Acquisition Highlights
  • This is Bank of America’s 9th transaction in the Financial Services sector.
  • This is Bank of America’s largest (disclosed) transaction.
  • This is Bank of America’s 10th transaction in the United States.
  • This is Bank of America’s 2nd transaction in New York.

M&A Deal Summary
Date 2008-09-15
Target Merrill Lynch Wealth Management
Sector Financial Services
Buyer(s) Bank of America
Deal Type Merger
Deal Value 50.0B USD

Target

Merrill Lynch Wealth Management

New York, New York, United States
Merrill Lynch Wealth Management is the wealth management division of Bank of America. Merrill Lynch is headquartered in New York City and consists of over 15,000 financial advisors and $2.2 trillion in client assets.

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Buyer(S) 1

Buyer

Bank of America

Charlotte, North Carolina, United States
Category Company
Founded 1784
Sector Financial Services
Employees212,000
Revenue 98.6B USD (2023)
DESCRIPTION
Entrance to Bank of America Center in downtown Charlotte, North Carolina.
Entrance to Bank of America Center in downtown Charlotte, North Carolina.

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.

DEAL STATS #
Overall 10 of 12
Sector (Financial Services) 9 of 9
Type (Merger) 2 of 2
State (New York) 2 of 2
Country (United States) 10 of 11
Year (2008) 2 of 2
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-11 Countrywide Financial

Calabasas, California, United States

Countrywide Financial Corp. is a diversified financial services provider. Countrywide originates, purchases, securitizes, sells, and services residential and commercial loans; provides loan closing services such as credit reports, appraisals and flood determinations.

Buy $4.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-09-30 Columbia Management Investment Advisers

Boston, Massachusetts, United States

Columbia Management is a provider of financial asset management products and services. It was formed in 1962.

Sell $1.0B
Mergr

Product

Company

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