Kenneth Lewis

Bank of America and Merrill ready for tough times ahead

Bank of America and Merrill ready for tough times aheadNew York - Bank of America Corp chief executive Kenneth Lewis on Monday said the acquisition of Merrill Lynch & Co left the banking giant best positioned to weather the financial storm that has engulfed Wall Street and is unlikely to end before 2010.

Lewis said the 50-billion-dollar takeover, which first came under discussion Saturday morning, had been the "strategic opportunity of a lifetime" despite one of the most difficult financial environments in US history.