Goldman Sachs: acquisition price and cultural difference major hurdles

Goldman Sachs pointed out that the takeover price and cultural difference are major obstacles facing Merrill Lynch and HSBC Holdings (0005) though the merger between the sides is proper. Goldman Sachs kept the stock price of HSBC Holdings around HK$96-106 and suggested that it can be absorbed at HK$96.

It said that the two sides have no further co-op expansion plans for the time being, adding that there were rarely successful examples about commercial banks acquisition of investment banks.

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