MERRILL LYNCH&lt;MER> CANADA MULLS BUYING BROKER

  Merrill Lynch Canada Inc, wholly owned
  by Merrill Lynch and Co, is considering acquiring another
  Canadian securities company as the result of federal and
  provincial government moves to lift investment dealer ownership
  restrictions on June 30, according to a published report.
      "We're talking to a number of people," Merrill Lynch Canada
  deputy chairman E. Duff Scott told The Toronto Star. "Whether
  we're going to do something, I don't know," he said.
      A Merrill Lynch Canada spokesman declined to comment on the
  newspaper report when queried.
      Scott did not disclose which investment dealers Merrill
  Lynch Canada was considering acquiring, but the Toronto Star
  quoted unidentified industry sources as saying serious
  discussions have already been held with Burns Fry Ltd.
      Burns Fry chairman Jack Lawrence told the newspaper the
  investment dealer has not made a final decision, but was
  examining "three or four alternatives."
      Discussions between brokers about possible mergers is to be
  expected pending industry deregulation, one investment industry
  source, who asked not to be named, told Reuters.
      "It's silly not to take a look (at making a merger or
  acquisition). If you're a businessman, you have to take a look,"
  the industry source said.
      Under federal and provincial government regulations
  expected to be in place by June 30, banks, trust companies and
  foreign companies will be allowed to acquire existing
  investment dealers or establish their own securities
  subsidiaries.
  

