New York, September 15, 2008—Shearman & Sterling represented Merrill Lynch & Co., Inc. in its $50 billion all-stock sale to Bank of America Corporation.

The transaction is expected to close in the first quarter of 2009. It has been approved by directors of both companies and is subject to shareholder votes at both companies and standard regulatory approvals.

The combined company would have leadership positions in retail brokerage and wealth management. By adding Merrill Lynch’s more than 16,000 financial advisers, Bank of America would have the largest brokerage in the world with more than 20,000 advisers and $2.5 trillion in client assets.

Principal M&A attorneys on the transaction are New York-based partners John Madden, John Marzulli and Scott Petepiece, with support from Executive Compensation & Employee Benefits partner Linda Rappaport, Tax partners Doug McFadyen and Peter Blessing and Finance partner Maura O’Sullivan. Additional Shearman & Sterling attorneys include NY-based M&A associates Andrew Noreuil, Robert Katz, Margaret Davidson, James Loftus, Rory O’Halloran, Michael Pellegrino, Craig Culbert and Gaurav Sud. Counsel Patricia Kuhn (New York-Executive Compensation & Employee Benefits), Chris Poggi (New York-Finance) and Ansgar Simon (Tax) and associate Adam Kaminsky (New York-Executive Compensation & Employee Benefits) also advised on the transaction.

For additional information contact:
Ron Brandsdorfer | New York | T +1.212.848.5081 |