Bank of America may purchase ETrade because it is at the historical low price after turning to profitability last year.
Merrill Lynch pays $500 for all new brokerage account holders at ML. ETrade offers $500 in free trading for new account holders also. The price per brokerage account is more than $500 but we will use $500 for our calculations.
ETrade has 4.4M brokerage accounts. Multiply this by $500 and divide by number of ETFC shares. Got it now? imho