Bank of America Merrill Lynch has withdrawn from bidding to advise Turkish defence contractor Aselsan after Turkey struck a preliminary defence deal with a Chinese firm under U.S. sanctions, an Aselsan official said on Friday. Turkey, a member of NATO, said in September it had chosen an air and missile defence system built by China Precision Machinery Import and Export Corp (CPMIEC) over rival offers from Franco-Italian Eurosam SAMP/T and U.S. firm Raytheon Co.Merrill Lynch had made a joint bid with Turkey's Halk Investment to advise Aselsan on a planned secondary listing but has since written to the firm to say it was pulling out, the Aselsan official said, asking not to be named."We have received five offers from brokerage houses. One of those was the Halk Investment-Merrill Lynch bid ... Due to the missile deal with China, Merrill Lynch has informed us that they pulled out," the official said.Merrill Lynch officials in Turkey could not immediately be reached for comment.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC remained unchanged at $15.43. In the past year, the shares have traded as low as $10.46 and as high as $15.98. On average, 93697696 shares of BAC exchange hands on a given day and today's volume is recorded at 3000.
Raytheon Company together with its subsidiaries, is a technology company specializing in defense, homeland security and other government markets worldwide. Shares of RTN remained unchanged at $86.00. In the past year, the shares have traded as low as $52.24 and as high as $89.56. On average, 1696370 shares of RTN exchange hands on a given day and today's volume is recorded at 0.
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