NEW HERE? LEARN MORE
closeclose
Last visit was: 25 Apr 2024, 00:12 It is currently 25 Apr 2024, 00:12
Decision Tracker
My Rewards
New posts
New comers' posts

Close
GMAT Club Daily Prep
Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History
Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.
Go to My Error Log Learn more
Close
Request Expert Reply
Confirm Cancel

Lehman Bankruptcy? Bank of America / Merrill Lynch merger?

SORT BY:
Date
Kudos
User avatar
solaris1
VP
VP
Joined: 05 Aug 2007
Posts: 1431
Own Kudos [?]: 223 [0]
Given Kudos: 22
Concentration: General Management
Schools:NYU Stern '11
Lehman Bankruptcy? Bank of America / Merrill Lynch merger? [#permalink] New post   14 Sep 2008, 14:19
Quite a Sunday, eh folks?

LEH: 0
BAC+MER: 1??


FT: Barclays pulls out from Lehman rescue talks
https://www.ft.com/cms/s/0/fe37285e-8282-11dd-a019-000077b07658.html

Dealbreaker: Bloomberg is reporting that Bank of America is walking away from the deal for Lehman
https://dealbreaker.com/2008/09/breaking-reuters-is-reporting.php

WSJ: Bank of America, Merrill Lynch in Merger Talks
https://online.wsj.com/article/SB122142278543033525.html?mod=special_coverage (subscription)
https://dealbook.blogs.nytimes.com/2008/09/14/bank-of-america-in-talks-to-buy-merrill-lynch/index.html?hp
User avatar
togafoot
Current Student
Joined: 18 Dec 2007
Posts: 983
Own Kudos [?]: 144 [0]
Given Kudos: 10
Location: Hong Kong
Concentration: Entrepreneurship, Technology
Schools: Hong Kong University of Science and Technology (HKUST) - Class of 2010
Send PM
Re: Lehman Bankruptcy? Bank of America / Merrill Lynch merger? [#permalink] New post   14 Sep 2008, 17:19
Hold onto your hats... stock market tumble imminent (again). Govt. Bonds on the up as people rush to safe havens, and FX carry trades unwind further as people become increasingly risk averse for now.
User avatar
solaris1
VP
VP
Joined: 05 Aug 2007
Posts: 1431
Own Kudos [?]: 223 [0]
Given Kudos: 22
Concentration: General Management
Schools:NYU Stern '11
Re: Lehman Bankruptcy? Bank of America / Merrill Lynch merger? [#permalink] New post   14 Sep 2008, 18:15
It's done - BAC is buying MER. :shock:

I did not see this coming.
User avatar
trader1
Senior Manager
Senior Manager
Joined: 30 Jul 2007
Posts: 385
Own Kudos [?]: 62 [0]
Given Kudos: 5
Location: Europe
Concentration: General Management
Schools:St. Gallen '09
 Q47  V40
Send PM
Re: Lehman Bankruptcy? Bank of America / Merrill Lynch merger? [#permalink] New post   14 Sep 2008, 23:52
`Tectonic' Shift on Wall Street as Lehman Fails, Merrill Sold

https://www.bloomberg.com/apps/news?pid= ... refer=home

Fed Widens Collateral, Banks Set Up $70 Billion Fund

https://www.bloomberg.com/apps/news?pid= ... refer=home


Good luck to everyone trying to find a job in financial services :)
User avatar
solaris1
VP
VP
Joined: 05 Aug 2007
Posts: 1431
Own Kudos [?]: 223 [0]
Given Kudos: 22
Concentration: General Management
Schools:NYU Stern '11
Re: Lehman Bankruptcy? Bank of America / Merrill Lynch merger? [#permalink] New post   15 Sep 2008, 01:38
I've been up all night and I don't even work in investment banking anymore! I can't believe this thread hasn't gotten more attention here. Huge ramifications for current and prospective MBAs!

People have been posting SC and DS questions instead... :roll:
User avatar
bsd_lover
SVP
SVP
Joined: 17 May 2007
Posts: 2437
Own Kudos [?]: 1682 [0]
Given Kudos: 210
Send PM
Re: Lehman Bankruptcy? Bank of America / Merrill Lynch merger? [#permalink] New post   15 Sep 2008, 02:22
I'm almost glad that I got dinged everywhere last year atm. Will give me some more time to look in the direction the whole industry is going before committing to it. Sad part is that I met a few UChicago students last year with FT offers from Lehman. I feel for them :(
User avatar
pm4553
Senior Manager
Senior Manager
Joined: 27 Jun 2008
Posts: 329
Own Kudos [?]: 136 [0]
Given Kudos: 92
Concentration: General Management
WE 1: Investment Banking - 6yrs
Send PM
Re: Lehman Bankruptcy? Bank of America / Merrill Lynch merger? [#permalink] New post   15 Sep 2008, 06:55
Oh boy! this hurts. I didn't see ML+BofA coming, its totally unexpected.
Big news

Bear+JPM
ML+BofA
Lehman??
Freddie Mac?

I wonder who's next?BNPP..MS/GS...they are the only biggies left.
User avatar
incognito1
Manager
Manager
Joined: 26 Jan 2008
Posts: 160
Own Kudos [?]: 253 [0]
Given Kudos: 16
Send PM
Re: Lehman Bankruptcy? Bank of America / Merrill Lynch merger? [#permalink] New post   15 Sep 2008, 09:56
Big news with major implications for everyone, no doubt. I'd imagine most of us are not sure what to expect at this point, since the whole thing is unravelling rather quickly
User avatar
trader1
Senior Manager
Senior Manager
Joined: 30 Jul 2007
Posts: 385
Own Kudos [?]: 62 [0]
Given Kudos: 5
Location: Europe
Concentration: General Management
Schools:St. Gallen '09
 Q47  V40
Send PM
Re: Lehman Bankruptcy? Bank of America / Merrill Lynch merger? [#permalink] New post   15 Sep 2008, 10:29
I think it's time to get serious about those Strategic Planning, Business Development, and General Management positions at industrial companies :-D

For those that are adamant about going into financial services post-MBA, you should have a good network of contacts in order to have a decent chance. The competition is greatly increasing with all the layoffs that have occurred and will continue to occur. The most important differentiating factor (in my opinion) will be who you know and how well your network will be able to help you land a job in this field.
User avatar
solaris1
VP
VP
Joined: 05 Aug 2007
Posts: 1431
Own Kudos [?]: 223 [0]
Given Kudos: 22
Concentration: General Management
Schools:NYU Stern '11
Re: Lehman Bankruptcy? Bank of America / Merrill Lynch merger? [#permalink] New post   21 Sep 2008, 19:56
Looks like the era of the independent investment bank is over. MS and GS just turned into bank holding companies!

Morgan Stanley and Goldman Sachs ATMs coming to a strip mall near you. Citi and JPMChase are going to be bummed about the extra competition. :lol:

https://calculatedrisk.blogspot.com/2008/09/fed-goldman-sachs-morgan-stanley-to-be.html
User avatar
togafoot
Current Student
Joined: 18 Dec 2007
Posts: 983
Own Kudos [?]: 144 [0]
Given Kudos: 10
Location: Hong Kong
Concentration: Entrepreneurship, Technology
Schools: Hong Kong University of Science and Technology (HKUST) - Class of 2010
Send PM
Re: Lehman Bankruptcy? Bank of America / Merrill Lynch merger? [#permalink] New post   28 Sep 2008, 00:03
There is still Nomura!

The Japanese IB has expanded into the rest of Asia and Europe with its acquisition of Lehman's Asia and European assets. I believe they are now the worlds largest independent IB.
avatar
edwarise
Intern
Intern
Joined: 26 Jan 2008
Posts: 19
Own Kudos [?]: 9 [0]
Given Kudos: 0
Send PM
Re: Lehman Bankruptcy? Bank of America / Merrill Lynch merger? [#permalink] New post   08 Oct 2008, 09:17
Another one of the world biggest IB now is Renessans, Moscow.

Anyway, who is going to work in IB now? So many guys spent their lives for nothing.
GMAT Club Bot
gmatclubot
Re: Lehman Bankruptcy? Bank of America / Merrill Lynch merger? [#permalink]
08 Oct 2008, 09:17

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne
Main navigation
GMAT Resources
Partners
MBA Resources
www.gmac.com|www.mba.com | | GMAT Club Rules | Terms and Conditions