Julius Baer Said Near Deal to Acquire Merrill Non-U.S. Units

Julius Baer Group Ltd., the Swiss money manager established in 1890, is nearing an agreement to acquire Bank of America Corp.’s Merrill Lynch wealth management businesses outside the U.S., according to two people with knowledge of the matter.

An announcement may come as early as Aug. 13, said the people, who asked not to be identified because the matter is private. Julius Baer said June 19 it was in talks to buy the Merrill Lynch units, which may be valued at $1.5 billion to $2 billion, the people said. The two parties are negotiating the final details and the deal could still fall apart, they said.