Bank of America is Not Backing Out

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Lewis reaffirms Bank of America is buying Merrill Lynch & Co. According to Lewis everything is still "on track" he said this to reporters afer a speech delivered at the Detroit Economic Club. The reassurance of the deal comes at a good time, especially because investors were speculating Bank of America could rethink its plan about the aquicsition since MER stock prices were falling so low. This in turn has led MER stocks to rise 5% from their previously daily low.

If something were to go wrong however with the acquisition, it would be yet another chaotic hit in the financials world