Merrill Lynch (MER) In Preliminary Talks To Sell Bloomberg Stake -CNBC
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Merrill Lynch (NYSE: MER) in preliminary talks to sell Bloomberg stake to Bloomberg. -CNBC
Charlie Gaspirno reports that Bloomberg has a first right of refusal and Merrill Lynch would likely have to sell its stake in Bloomberg to Bloomberg LP. John Thain estimated that Merrill's 20% stake in Bloomberg is worth $5-$6 billion. However, Bloomberg would likely only pay Merrill Lynch $3 billion.
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