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Archive Home > 2008 > July > 29 > Merrill to sell troubled assets, raise capital

Merrill to sell troubled assets, raise capital


July 29, 2008

Merrill Lynch & Co., in a broad move to clean up its troubled balance sheet, said Monday it will sell a big slice of its asset-backed securities and issue new stock to raise $8.5 billion of fresh capital. The world’s largest brokerage, struggling to right itself as the credit....

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