acquisition by Bank ofAmerica. BofA shareholders were scheduled to vote on thetransaction at a special meeting this morning. The vote follows theFederal Reserve board's approval of theacquisition this past Monday, and the European Union okayed thedeal on Thursday.

Under the terms of the transaction, which was announced on Sept.15--a day that also saw the collapse of Lehman Brothers--MerrillLynch will become a wholly-owned subsidiary of BofA. Merrill'sstockholders will receive 0.8595 of a share of BofA common stockfor each share of Merrill common stock held immediately prior tothe merger. The deal, which is expected to close by year's end,puts Merrill's value at about $50 billion.

"By approving this transaction, Merrill Lynch stockholdersexpressed confidence that thecombination of our firm and Bank ofAmerica will create one of the most powerful financial institutionsin the world, with unmatched capabilities and service," says JohnThain, Merrill's chairman and CEO, in a statement. "Thiscombination will create great value for our stockholders andclients around the world."