Wells Fargo Acquires Merlin Securities For Undisclosed Amount (WFC)

4-27-12-Wells Fargo (NYSE:WFC) looks to have entered into the prime brokerage business with its acquisition of Merlin Securities for an undisclosed price.Merlin has approximately 500 hedge funds, family office and investment adviser clients and approximately 100 employees.SmarTrend currently has Wells Fargo in a Downtrend and is currently monitoring these developments and will alert subscribers to any change of trend.