U.S. Close To Giving New Aid To Bank of America (BAC)
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- U.S. Close To Giving New Aid To Bank of America (BAC)
- U.S. May Extend More Aid to BofA (BAC) - WSJ
The Wall Street Journal is reporting that the U.S. government is close to a deal to provide Bank of America (NYSE: BAC) with additional billions to digest its recent acquisition of Merrill Lynch (NYSE: MER). Bank of America already received $25 billion from the TARP.
Talks between the two parties go back to mid-December when Bank of America warned the Treasury Department that it may not complete the purchase of Merrill Lynch due to the company's large fourth quarter loss.
The report said terms are still being finalized, with details expected with fourth-quarter earnings on Jan. 20th.
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