You need to monitor Calculated Risk for at least the next 24 hours.
Also Dealbreaker.
Executive summary: Barclays walked out of the talks earlier today. Bank of America walked out in the last hour or two, and might be purchasing Merrill Lynch for $25/share.
Lehman is expected to enter “liquidation”, which I thought meant bankruptcy but most reports do not seem to be using that word.
It is not at all clear that LEH will open for trading tomorrow.
CNBC is running a special report from 8-10 EDT tonight.
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