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Archive Home > 2008 > September > 15 > A failure, a rescue, a reshaped market

A failure, a rescue, a reshaped market

Lehman fails to find buyer; Bank of America to buy Merrill Lynch

By This article was reported by Jenny Anderson, Eric Dash and Andrew Ross Sorkin. It was written by Sorkin. / The Bulletin
September 15, 2008

NEW YORK — In one of the most dramatic days in Wall Street’s history, Merrill Lynch agreed to sell itself to Bank of America for roughly $50 billion to avert a deepening financial crisis, while another prominent securities firm, Lehman Brothers, hurtled toward liquidation....

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Published daily in Bend, Oregon, by Western Communications, Inc. Copyright 2007.