It's Official: Merrill Sells Stake In Bloomberg To Bloomberg LP For $4.425 Billion
This story was written by Staci D. Kramer.
Merrill Lynch sold its 20 percent stake in Bloomberg LP for $4.4 billion to the company, which exercised its right of first refusal. Initial reports had the stake going to founder Michael Bloomberg's private trust but the company preempted other buyers, including the New York City mayor. Bloomberg LP is borrowing from Merrill to finance the acquisition. Release. More to come.
By Staci D. Kramer