INVESTMENT: New Money for Merrill Lynch

The hints have been popping up on Wall Street for months that Merrill Lynch would sell its own shares to the public. Last week the men who manage the nation's biggest brokerage firm decided that the new-issue market was finally healthy enough to do just that. They announced a plan to sell up to 4,000.000 shares, half for the firm and the remainder for its private stockholders, who are mostly officers and employees. The offering, which will probably be made in late May or early June, will represent 13% of the firm's equity. The...

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