Merrill Lynch announced last week that it had an agreement to acquire the Chicago-based industrial company for $48.50 a share, or $4.23 billion.

The program also won a significant financial commitment when Merrill Lynch announced that it intended to make a $250,000 contribution.

Ten months ago, Merrill Lynch, the nation's biggest brokerage house, announced its plans for a long, smooth transfer of power.

Merrill Lynch & Company announced yesterday that its first-quarter earnings fell 45.5 percent from a year earlier, to $37.2 million, or 31 cents a share.

Merrill Lynch announced a sweeping reorganization, with the firm dissolving its two operating entities into six divisions.

Merrill Lynch, which is eliminating several thousand jobs, on Wednesday announced a salary freeze for all employees until mid-2002.

Merrill Lynch & Company yesterday announced internally a series of management changes to further shore up its securities trading operations.

"We need to rethink those things anyway," Merrill Lynch announced thoughtfully.

Merrill Lynch announced last August that it paid what it called a substantial penalty.

Merrill Lynch and City Group have already announced the first big rounds of layoffs.