What does BAML do in Mergers & Acquisitions?
Mergers and Acquisitions (M&A) are transactions in which the assets of one company is transferred or combined with the assets of another company. A merger is a legal consolidation of two entities into one entity, whereas an acquisition occurs when one entity takes ownership of another entity's assets. Bank of America provides M&A advice to companies about to merge or be acquired and, as a bulge bracket, often handles the largest business deals. For example, AT&T recently announced a deal to purchase Time Warner for $85 billion.
Why Bank of America?
Prominent in Mergers & Acquisitions: As one of the bulge bracket banks, Bank of America would be an excellent company to learn about M&A. Since the BAML is so large and so well known, many of the biggest companies hire Bank of America to provide M&A advise during the deal process. By interning with Bank of America, I can get experience and knowledge on the realm of Mergers and Acquisitions.