MBNA Bank Of America Merger

Hello buddy I want to know about the MBNA Bank Of America Merger so will you please provide me details about the same ??

As you want to know about the MBNA Bank Of America Merger so the details as under:

About

Bank of America is one of the world's biggest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full variety of banking, investing, asset management and other financial and risk-management products and services.

Bank of America Completes MBNA Merger

Transaction

MBNA shareholders will receive 0.5009 of a share of Bank of America common stock and $4.125 in cash for each share of MBNA common stock that they held instantly former to the merger.

Investor impact

The transaction is predictable to be accretive in 2007.
As a result of the merger, Bank of America expects to achieve overall expense efficiencies of $850 million after-tax, to be abundant realized by the end of 2007, and expects a restructuring charge of $1.3 billion after-tax.

Community Impact

Bank of America, a leader in corporate nationality, intends to build upon its formerly announced 10-year, $750 billion community development goal to include an exact community development lending and investment goal for Delaware.

Bank of America Completes MBNA Merger

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