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To: alan holman who wrote (28024)8/14/1998 11:18:00 AM
From: alan holman  Read Replies (2) of 28369
 
MIDLAND WALWYN SHAREHOLDERS OVERWHELMINGLY APPROVE MERRILL LYNCH
TRANSACTION

TORONTO, Aug. 14 /CNW/ - Midland Walwyn Inc. announced that Midland
Walwyn shareholders represented at today's special meeting voted
overwhelmingly in favour of the acquisition of Midland Walwyn by Merrill Lynch
& Co. Inc. The closing is conditional upon a final order of the court and
receipt of regulatory approval.
The combined entity will be a leading firm both in Canada and in the
global markets. It will be one of the top three firms in Canada in the private
client brokerage business and in underwriting, advising on mergers and
acquisitions, and trading debt and equity securities.
Midland Walwyn Chairman and Chief Executive Officer Robert B. Schultz
said: ''We are pleased that our shareholders have so indisputably endorsed
this transaction. The combination with Merrill Lynch is an excellent fit. As
consolidation proceeds in the nation's financial services sector, the Merrill
Lynch-Midland Walwyn combination will have the scale, the product and
distribution breadth, as well as the global capabilities to be the premier
financial services firm for Canadian investors and issuers alike.''
The legal name of the new entity will be Merrill Lynch Canada Inc.
Midland Walwyn currently operates from 116 branch offices throughout
Canada. Merrill Lynch, which has been in business in Canada since 1952, is one
of the world's leading financial management and advisory companies, with total
client assets exceeding US $1.4 trillion.

-30-

For further information: Peter Kahnert, Corporate Communications,
(416) 369-2560
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