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Yes, heard about the likely deal Friday--I worked for
many years at a part of what is now JP Morgan. One
thing driving the deal: At least two more are
brewing--don't be surprised to see two more in the
next week or so if the markets or interest rates do
anyting unusual--two are hanging on by a thread, only
one of which is US based....
Have a happy St Patty's day!
Tim Morge
www.marketgeometry.com
--- Deosaran Bisnath <deobisnath@xxxxxxxxx> wrote:
> JPMorgan Acts to Buy Ailing Bear Stearns at Huge
> Discount function getSharePasskey() { return
> 'ex=1363406400&en=5067e38849165728&ei=5124';}
> function getShareURL() { return
>
encodeURIComponent('http://www.nytimes.com/2008/03/16/business/16cnd-bear.html');
> } function getShareHeadline() { return
> encodeURIComponent('JPMorgan Acts to Buy Ailing Bear
> Stearns at Huge Discount'); } function
> getShareDescription() { return
> encodeURIComponent('Bear Stearns agreed to be bought
> by JPMorgan Chase for a bargain-basement price of
> less than $250 million, or about $2 a share.'); }
> function getShareKeywords() { return
> encodeURIComponent('Banks and
> Banking,Finances,Bankruptcies,Federal Reserve
> System,Bear Stearns Cos,Morgan, J P, Chase &
> Co,James E Cayne,Alan D Schwartz,Samuel Jr
> Molinaro'); } function getShareSection() { return
> encodeURIComponent('business'); } function
> getShareSectionDisplay() { return
> encodeURIComponent('Business'); } function
> getShareSubSection() {
> return encodeURIComponent(''); } function
> getShareByline() { return encodeURIComponent('By
> ANDREW ROSS SORKIN and LANDON THOMAS Jr.'); }
> function getSharePubdate() { return
> encodeURIComponent('March 16, 2008'); }
>
> By ANDREW ROSS SORKIN and LANDON THOMAS Jr.
> Published: March 16, 2008
> Bear Stearns, facing collapse because of the
> mortgage crisis, agreed Sunday evening to be bought
> by JPMorgan Chase for a bargain-basement price of
> less than $250 million, the two companies announced.
>
>
>
> The all-stock deal values Bear Stearns at about $2
> a share, based on JPMorgan?s closing stock price on
> Friday, the companies said. In contrast, shares of
> Bear Stearns, which fell $27 on Friday, closed at
> $30.
> A deal for Bear Stearns would end the independence
> of one of Wall Street?s most storied firms and help
> halt a sweeping panic that set in at the end of last
> week, causing Bear Stearns?s stock to swoon 47
> percent on Friday.
>
>
>
> ---------------------------------
> Be a better friend, newshound, and know-it-all with
> Yahoo! Mobile. Try it now.
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