Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 1.2

Description of the concentration

On September 15, 2008, Bank of America Corporation (ìBACî) agreed to acquire sole control of Merrill Lynch & Co., Inc. (ìMerrillî) in an all-stock transaction. A new, wholly-owned subsidiary of BAC will merge with and into Merrill, with Merrill continuing as the surviving company and a BAC subsidiary.

BAC is headquartered in Charlotte, North Carolina, United States. It serves, amongst others, individual consumers, small and middle market businesses and large corporations with a full range of banking services and investment products. BAC divides its activities into three core business segments: (1) consumer and small business banking; (2) corporate and investment banking; and (3) wealth and investment management.

Merrill is a U.S. investment banking and securities firm headquartered in New York, United States. It provides a wide range of services worldwide to a diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Merrill divides its activities into two core business segments: (1) global markets and investment banking; and (2) wealth management.

The Transaction relates to the banking sector and in particular to the provision of investment banking, corporate banking, and financial market services.