Meanwhile, Bank of America has agreed to purchase Merrill Lynch in an all-cash deal of $50 billion. While Merrill will get a new lease of life, Lehman's unsecured creditors are likely to receive around 60-80 cents to the dollar, agencies reported. This has resulted in turmoil across Asian markets on Monday morning. Most Asian markets are closed today. Among the markets that are open, India is the worst-hit with the Sensex losing 5.5 pc in early trades. Taiwan is down 4.1 pc, while Singapore has lost 2.9 pc.