Friday, 18 July 2008

Merrill sale would give a value to Bloomberg LP

After more than two decades, Mayor Michael Bloomberg and one of his earliest business partners, Merrill Lynch, are parting company in a deal that finally places a public value of the mayor's private company, Bloomberg LP.
That figure: At least $22.5 billion.
Bloomberg is expected to buy Merrill Lynch's 20 percent stake in Bloomberg LP, the financial data and news provider he founded, for about $4.5 billion, people briefed on the deal said Wednesday afternoon. The sale will be handled through the blind trust that manages the mayor's fortune

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