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JPMorgan Chase Says It Will Acquire Bear Stearns for $2

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Danascot Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-16-08 07:29 PM
Original message
JPMorgan Chase Says It Will Acquire Bear Stearns for $2

Bwahahaha!

I'm subscribed to NY Times News Alerts and this is how the subject of a news alert read ... the "a share" part was cut off.

Breaking News Alert
The New York Times
Sunday, March 16, 2008 -- 7:18 PM ET
-----

JPMorgan Chase Says It Will Acquire Bear Stearns for $2 a Share

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.

Read More:
http://www.nytimes.com/2008/03/16/business/16cnd-bear.h...

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MercutioATC Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-16-08 08:31 PM
Response to Original message
1. I'd love to see how many of the big players still owned Bear on Fri at close of business.
My bet is zero.
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