The Bank of America to deliver unparalleled convenience and products for customers through acquisition of premier credit card company.

The Bank of America Corporation is announced a definitive agreement to acquire MBNA Corporation.

This MBNA acquisition combines the country's largest domestic bank with a leading provider of credit card and payment products, significantly enhancing Bank of America's product mix and customer reach.

The MBNA Corporation was a bank holding company wholly owned subsidiary MBNA America Bank, N.A., headquartered in Wilmington, Delaware, prior to being acquired by Bank of America in 2006

Frank Bramble, Sr., former vice chairman of MBNA, will joining Bank of America's board of directors at its regularly scheduled January meeting.

In this under the agreement MBNA stockholders was receive 0.5009 shares of Bank of America common stock for each of their shares plus a cash component of $4.125 per share.

The transaction is valued at $35 billion in total or $27.50 per MBNA share.

MBNA the largest independent credit card lender in the world and a recognized leader in affinity marketing, is an international financial services company providing lending, deposit, and credit insurance products and services.