Merrill Lynch, one of the world’s leading financial advisory firms, has agr
eed to buy San Francisco-based First Republic Bank (FRB) for $1.18 billion. First Republic Bank caters to the financial needs of High Net worth Individual Individuals, & by acquiring it, Merrill Lynch will gain clients with an average net worth of $20 million. The deal values FRB at $55 per share, which is 44% more than its share price as on January 26. The bank has 43 branches and specialises in mortgages on luxury homes, giving Merrill more wealthy customers who may buy brokerage services.
For Complete IIPM Article, Click on IIPM Article
eed to buy San Francisco-based First Republic Bank (FRB) for $1.18 billion. First Republic Bank caters to the financial needs of High Net worth Individual Individuals, & by acquiring it, Merrill Lynch will gain clients with an average net worth of $20 million. The deal values FRB at $55 per share, which is 44% more than its share price as on January 26. The bank has 43 branches and specialises in mortgages on luxury homes, giving Merrill more wealthy customers who may buy brokerage services.For Complete IIPM Article, Click on IIPM Article
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