Braniff Loses Its Investment Banker: Merrill Lynch...
From Times Staff and Wire Reports
Braniff Loses Its Investment Banker: Merrill Lynch Capital Markets will halt its search for a buyer for Orlando, Fla.-based Braniff Inc. because the bankrupt airline cannot afford the company’s monthly fee of $150,000, said Joe Shapiro, one of Braniff’s bankruptcy attorneys. The withdrawal of Merrill Lynch is seen as a setback for Braniff. The companies announced that Merrill Lynch would cease its efforts to sell Braniff and its planes on Friday. Shapiro said Merrill Lynch, which was retained Oct. 26, had received some compensation from Braniff.
