Merrill (MER) Could Receive $5B for Bloomberg, $12B for BlackRock Stakes -WSJ
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The Wall Street Journal is the reporting that Merrill Lynch (NYSE: MER) continues to move closer to making deals to sell its stakes in Bloomberg and BlackRock (NYSE: BLK). Selling part or all of either stake would raise much-needed cash as the company is expected to report up to $6 billion in write-downs during Q2.
The article says that Merrill could raise $5 billion for its 20% stake in Bloomberg and more than $12 billion from its 49% interest in BlackRock. According to people familiar with the matter, Merrill would likely only sell a part of its BlackRock stake in an attempt to maintain a strategic alliance if a deal is done.
Merrill Lynch & Co., Inc., together with its subsidiaries, provides investment, financing, insurance, and related services to individuals and institutions worldwide.
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