Reports Merrill Lynch (MER) Write-Down To Reach $15B
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According to reports from the New York Times, Merrill Lynch (NYSE: MER) is expected write down $15 billion in losses related to bad mortgage related investments, doubling the original estimate. This will force the firm to raise additional capital to bolster the balance sheet.
In December, Merrill Lynch raised $6.2 billion in a private placement with Temasek Holdings and Davis Selected Advisors.
Merrill Lynch's new write downs are expected to be reported on January 17th, when the company reports Q4 results.
Link To NY Times Article
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