Minding Your Business: Bank of America to Buy Fleet for $47 Billion
SOLEDAD O'BRIEN, CNN ANCHOR: Wall Street news now. It says stay out of stocks, a multi-billion-dollar merger at two of the nation's largest banks. Andy Serwer is "Minding Your Business." Good morning.</s>ANDY SERWER, "FORTUNE" MAGAZINE: Good morning, Soledad. Yes, this is big, big news for business this morning on Wall Street. Bank of America, the nation's third-largest bank, is buying FleetBoston out of Boston for $47 billion this morning. And that's creating the nation's and the world's second-largest bank, after Citigroup. They'll be leaping over ahead of J.P. Morgan. And Warren Buffett -- that's right -- is saying stay out of stocks. I bet he wished he owned Fleet Bank this morning, though, because that stock is trading for $31 and they're going to be offering $45 a share. So, we're going to see a nice pop there. Good news for investors, though. There is a couple of other big deals this morning, a couple deals in health care. United Healthcare buying Mid-Atlantic for about 3 billion, and then Anthem buying WellPoint for 15 billion. They call it merger Monday, Soledad. A lot of times executives get together over the weekend and announce these deals. That's what's happening right now, and it's a sign that people believe that the environment is picking up a little bit. Futures are up on the news, and that is some good stuff for investors who need that kind of thing.</s>O'BRIEN: Do we have time for a quick preview?</s>SERWER: Yes, we do.</s>O'BRIEN: Five words or less?</s>SERWER: Yes, OK. Well, last week, we were down a little bit. Here, you can see, not so terrible. Am I over five?</s>MILES O'BRIEN, CNN ANCHOR: You're over five.</s>SERWER: Futures are up this morning. How about that? That's my last sentence.</s>O'BRIEN: Very good. Thank you.</s>SERWER: OK. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com. $47 Billion>