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To: Hyperpy who wrote (3480)	8/12/1999 10:26:00 AM
From: Dalin	Respond to of 10027

Here is the news on that: Speculation of Merrill merger heats up-WSJ Reuters, Thursday, August 12, 1999 at 07:10 NEW YORK, Aug 12 (Reuters) - Speculation that number one U.S. broker Merrill Lynch and Co Inc (NYSE:MER) may be open to a merger deal with a financial services company has intensified, the Wall Street Journal reported in Thursday's interactive edition. In its closely watched 'Heard on the Street' column, the paper listed Chase Manhattan Corp (NYSE:CMB), the second biggest U.S. bank, and insurance giant American International Group (NYSE:AIG) as rumoured potential partners. Citing 'one person with knowledge of the issue,' the Journal said Merrill Chief Executive David Komansky had recently talked informally to William Harrison, Chase's chief executive. The paper also said executives from both firms have 'indicated' that the two should consider restarting merger talks, which they held last year. Officials for Merrill, Chase and AIG could not immediately be reached by Reuters. But the Journal said officials at Merrill and Chase declined to comment on any discussions between the firms. An AIG spokesman also declined to comment to the Journal. The paper said talk of some kind of deal has resurfaced since the resignation of the firm's No. 2 executive Herbert Allison. "Merrill has a very strong and independent culture, and that will always be an impediment to a merger," Richard Strauss, a brokerage analyst for Goldman Sachs Group told the Journal. "But because there is no clear successor (to Komansky) a merger is more likely at this point." The paper said Merrill insiders as well as shareholders and Wall Street analysts have been abuzz with speculation on some kind of deal but that the stock prices of Merrill and Chase do not signal a merger deal is in the works BTY! D.