Sunday, Mar 16, 2008
The understatement of 2008 - ``Right now it's a very potent short-term problem,''
Bloomberg: Bear Stearns, JPMorgan Aim to Strike Sale Agreement, People Say
Bear Stearns Cos. executives were striving today to strike an agreement to sell the crippled securities firm to JPMorgan Chase & Co. before trading resumes tomorrow, people with knowledge of the talks said.
Posted by jack c @ 08:50 PM (249 views) Add Comment
1 Comment
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1. trough2010 said...
Deal just announced. Equivalent of $2 per Bear Stearns share compared with $30 close on Friday just shows how grave the situation must have been. Of course the Fed has taken on the lender of last resort role by providing funding for the 'less liquid' $30bn in Bear assets (see http://www.ft.com/cms/s/e2206ed2-f380-11dc-b6bc-0000779fd2ac.html).