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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: AllansAlias who wrote (69789)2/21/2001 3:11:54 PM
From: Les H  Read Replies (3) of 436258
 
Looks like someone could be scooping up SCH or one of the e-brokers in a big fall to come

Merrill seeks to triple authorized number of shares

FRIDAY, FEBRUARY 16, 2001 6:25:00 PM EST
WASHINGTON, Feb 16 (Reuters) - Wall Street titan Merrill Lynch & Co Inc. MER said on Friday it would ask its shareholders for permission to nearly triple its number of authorized shares to 3 billion, although it added that it had no plans to issue more shares immediately.

The financial services giant said in an annual proxy statement filed with the Securities and Exchange Commission that it will seek shareholder approval for the new shares.

Currently there are 1 billion authorized common shares and 25 million authorized preferred shares, the filing showed.

The company said its shareholders meeting will be April 27 in Plainsboro, N.J.

"The board of directors believes that the increase in our authorized shares of common stock will maintain Merrill Lynch's financing and capital raising flexibility and facilitate future stock splits, capital raising, acquisitions and other corporate purposes," the company said.

As of December 29, there were 807,954,553 common shares and 42,500 preferred stock outstanding in Merrill Lynch.

Its shares closed $2.71 lower at $66.90 on the New York Stock Exchange. In the past 52 weeks, its stock has been as high as $80 and as low as $42.28.
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