Bank of America May Buy Barclays

CHARLOTTE, N.C. (AP) -- Shares of Barclays PLC rose more than 4 percent Friday after an investment analyst advised clients that Bank of America Corp. may be interested in bidding for the London-based banking company.

"Bank of America has previously indicated that the next phase of its expansion is to become a leading global commercial and investment bank," Merrill Lynch research analyst Edward Najarian wrote in a note to clients Friday. "In order to achieve that goal, we believe Bank of America is very interested in acquiring Barclays."

Barclays' U.S. shares rose $2.46, or 4.41 percent, to close at $58.25 on the New York Stock Exchange, while Bank of America shares fell 83 cents, or 1.58 percent, to finish at $51.66.

Bank of America spokesman Scott Silvestri said it is the bank's policy not to "comment on market rumor or speculation."

http://biz.yahoo.com/ap/061208/bank_of_america_barclays.html?.v=5

Will they butcher another U2 song like they did when they bought MBNA?:puke:

pension funds? iirc, they were investing in the South African apartheid government back then and there was a strong grass roots movement to remove public pension funds from their management oversight. Things have changed, of course, but it just caught my eye that BofA has continued to grow and this proposed acquisition is a big step toward nailing a firm role in international markets. Just a side comment.