Bank of America's Lewis lauded for bold acquisition

Bank of America Corp. chief executive Ken Lewis is atop the financial world after engineering a plan to acquire Merrill Lynch for $29 per share over the weekend. "I was a little ahead of my time," Mr. Lewis said in a televised interview in which he noted that seven years ago he had predicted commercial banks would eventually own investment banks. Bank of America has said it can achieve $7 billion in cost savings.

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