Mon Jul 7, 2:22 AM ET (Reuters) - Merrill Lynch & Co (MER.N) is moving closer to selling stakes in financial firm BlackRock Inc (BLK.N) and information provider Bloomberg LP in an effort to raise cash to make up for $6 billion in coming write-downs, the Wall Street Journal said Monday citing people familiar with the matter.Merrill is likely to seek about $5 billion for its 20 percent stake in Bloomberg, a price lower than it might fetch in the open market, the paper said.
Bloomberg's right of first refusal over the stake sale could make it difficult to attract rival buyers, according to the paper.
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