Shareholders approve Bank of America-Merrill Lynch deal

And so it is done: Bank of America and Merrill Lynch shareholders have approved the deal--once valued at $50 billion, now down to $20 billion--to buy Merrill Lynch. The meeting was somewhat anti-climactic as very few voices of dissent were heard. The whole thing only last 45 minutes. None other than Win Smith Jr.--former chairman of Merrill Lynch International, whose father was a Merrill founder--singled out Stanley O'Neal and the board for the woes of Merrill, reports the AP. Can Bank of America make it all work out? The jury will be out for a while, but it will not be easy to digest the Merrill balance sheet. There will likely be some minefields. Many assume there will be cultural rifts. Ken Lewis certainly can't count on a honeymoon. His legacy will be determined by the success of this merger.

For more:
- here's the AP article

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