JPMorgan In Talks to Purchase Bear Stearns for $10 /Share

It looks as if the shareholders may have a small victory on their hands as JPMorgan (JPM) was in talks with Bear Stearns (BSC) on Sunday to raise their bid from a symbolic $2 per share to a somewhat more reasonable $10 per share, valuing the merger at around $1 billion. Some will still argue that the BSC building is valued anywhere from $8 - $12 per share leaving the core of the BSC business worthless, which may or may not be the case. JPM and BSC are also discussing the purchase of approximately 35% of BSC’s shares in an attempt to fend off any battle between JPM and BSC’s shareholders.

So much for Sundays being a day of rest, eh?

Jorge 24 March 2008 Equities
Have We Hit the Bottom? Confirmation?

Viewing 4 Comments

Trackbacks

blog comments powered by Disqus