And it sounds like earlier details were basically correct… WSJ is reporting that Merrill has reached a deal to sell its 20 percent in financial news service Bloomberg for $4.5-$5 billion. The buyer is Bloomberg LP, which had a right of first refusal. News of an imminent deal at this prace was first reported last week. There’s no word on when the announcement will be made, but it could come as early as tomorrow, when capital-hungry Merill announces quarterly earnings to much anticipation.

• Mayor Bloomberg’s Trust Offering Merrill $4.5-$5 Billion For Its 20 Percent Stake: Report
• Merrill In Talks To Dispose Off Bloomberg Stake