Merrill Lynch (NYSE: MER) was acquired by Bank of America (BAC) for $50B on January 1, 2009.[1] On September 15, 2008, Merrill Lynch agreed to a deal with Bank of America in which BAC swapped 0.8595 share of its stock for each share of Merrill Lynch. This price was 1.8 times Merrill's stated tangible book value.[2]