MERRILL LYNCH TO BUY MIDLAND WALWYN
By Adnews Staff
Merrill Lynch & Co. Inc. of New York is entering the Canadian market. The securities firm has bought Midland Walwyn Canada of Toronto in a deal worth $1.26 billion. The deal is still subject to shareholder approval and is expected to close by the end of September. The new company will be called Merrill Lynch Canada. Merrill Lynch spokesperson Timothy Gilles told Adnews yesterday that Canadian advertising for the company will be handled by its U.S. agency. The account is currently in review and a decision is expected shortly. The newly formed company will be one of the top three firms in Canada dealing with the private client brokerage business, as well as in underwriting, advising on mergers and acquisitions and trading debt and equity securities.