Fresh merger frenzy

So, Deutsche Bank is buying Merrill Lynch. No, hang on, it’s merging with UBS. Actually, Lloyds TSB wants to buy Deutsche. And if none of that works, Deutsche wants to buy PaineWebber from UBS.

What has sent bank merger rumours a-frenzy? It’s not just centred on Deutsche Bank, either. Apparently, Bank of America has its eye on Merrill Lynch and Goldman Sachs, possibly Lehman Brothers as well, and there’s even a chance it’ll go after CSFB – assuming Credit Suisse puts it up for sale.