Multiple choice

Who bought the Merrill Lync following the mortgage crisis and for how much?

  1. Bank of Americafor for $50 bn
  2. Citi Group for $ 19 bn
  3. AIG for $ 50 bn
  4. Bear Stearns for $ 19 bn
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Bank of America agreed to acquire Merrill Lynch in September 2008 for approximately $50 billion in stock. This occurred at the height of the financial crisis to prevent Merrill Lynch from collapsing. The deal significantly changed the landscape of American investment banking.