BUSINESS
03/18/2010 05:12 am ET | Updated May 25, 2011

Bank Of America's Merrill Acquisition Makes Up 30% Of Bank's Profits

Oct. 5 (Bloomberg) -- Merrill Lynch & Co., which helped bring down Kenneth D. Lewis, may end up saving his bank.

The decision by the 62-year-old Bank of America Corp. chief executive officer to purchase Merrill in January for $29 billion already is generating more than 25 percent of the bank's profits -- along with charges by government officials that he misled investors about the extent of losses and bonuses.

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