Merrill Lynch & Co. CEO Stanley O'Neal reportedly approached Wachovia
Corp. chief Ken Thompson about a merger, but without consulting Merrill's
board first,
The
New York Times reported. While the news likely raised red flags in
Merrill's board room, it also prompted The Wall Street Journal's M&A blog
Deal Journal to shed some pixels on the subject. Deal Journal suggests the
leading reason a merger between Merrill and Wachovia is unlikely because the
Charlotte, N.C., bank is still busy digesting its prior acquisitions: Golden
West Financial Corp. and A.G. Edwards Inc. — Matthew Wurtzel
