Summary
This Form 8-K filing by Bank of America Corporation (BAC) on April 1, 2004, announces the official closing of its merger with FleetBoston Financial Corporation, effective April 1, 2004. This significant event marks the culmination of the merger agreement dated October 27, 2003, and fundamentally alters the scale and scope of Bank of America. Investors should note that the report confirms the conversion of FleetBoston's common stock into 0.5553 shares of Bank of America common stock per share, and its preferred stock into equivalent Bank of America preferred stock. While this report details the completion of the transaction, it explicitly states that the full financial statements of the acquired business (FleetBoston) and pro forma financial information for the combined entity will be filed via amendment within 60 days. This means investors will need to await further filings for a complete financial picture of the merged company. The primary focus of this 8-K is the legal and operational closing of this substantial acquisition.
Key Highlights
- 1Bank of America Corporation (BAC) has officially closed its merger with FleetBoston Financial Corporation, effective April 1, 2004.
- 2The merger was completed pursuant to the Agreement and Plan of Merger dated October 27, 2003.
- 3FleetBoston common stock was converted into 0.5553 shares of Bank of America common stock per share.
- 4FleetBoston preferred stock was converted into Bank of America preferred stock with similar rights and preferences.
- 5The company has filed a press release announcing the closing of the merger as Exhibit 99.1.
- 6Detailed financial statements of FleetBoston and pro forma financial information for the combined entity will be filed by amendment at a later date (within 60 days).