JPMorgan gets Bear Stearns for $2 a share

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Cusipz

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Will be $20 a share, not 2$.

Still a hit, but without a bailout BSC is worth 0. They can't survive this liquidity crisis alone.
 

Cusipz

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The Madison Ave. headquarters of Bear is worth $16/share alone. So the rest of the company is being thrown in. A lot of unknown liabilities on the books.

Plus I'm sure the Fed has given JPM some guarantees that if it really turns ugly, the Govt will eat some of it! Nice deal.
 
FairWarning

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Heard the same thing on WGN http://wgnradio.com/index.php?optio...SITE=WGN&SECTION=TOP_STORIES&TEMPLATE=DEFAULT

Mar 16, 7:18 PM EDT


JPMorgan Closes Deal on Bear Stearns
By JOE BEL BRUNO and MADLEN READ
AP Business Writers

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Fed and Rival Bail Out Bear Stearns
Inventory Charge Hurts Kroger 4Q Profit
Airbus Parent EADS Reports Annual Loss

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</td></tr> </tbody></table> <script>var mytd = document.getElementById('mytd'); var mydiv = document.getElementById('spnrefmoneymarkets'); if (mytd != null) {mytd.innerHTML = spnrefmoneymarkets.innerHTML; mydiv.innerHTML = ''}; </script><!-- /AdHocNewsListing: 2446 --> </td></tr> </tbody></table> <!--/HtmlTable: 45832 --> <!-- /Package: 1502929 --> </td> </tr> </tbody></table> <!-- /MediaBox: 16084842 --><!-- /Story-MediuaBoxPosition: 2 --><!-- Story-MediaBoxPosition: 3 empty --> <!-- Story-MediaBoxPosition: 4 empty --> NEW YORK (AP) -- JPMorgan Chase said Sunday it will acquire rival Bear Stearns in a deal valued at $236.2 million, a stunning collapse for one of the world's largest and most venerable investment banks.
JPMorgan Chase & Co. said the $2 a share, all-stock deal has received the required approvals from the federal government and the Federal Reserve. Bear Stearns shares close Friday at $30 a share.
The Fed will provide special financing to JPMorgan Chase in connection with the deal, JPMorgan Chase said. The central bank has agreed to fund up to $30 billion of Bear Stearns' less liquid assets.
© 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy.
 
GreenDoberman

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What if you are a Bear Stearns shareholder (which I'm not and hope no one on here is)?

Obviously, you have to file a major lawsuit for this right?
 
MIMS

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GreenDoberman said:
What if you are a Bear Stearns shareholder (which I'm not and hope no one on here is)?

Obviously, you have to file a major lawsuit for this right?
Click to expand...

Defendant would file a 12(b)(8) motion to dismiss for the plaintiff being an idiot and owning the stock
 
TTinCO

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GreenDoberman said:
What if you are a Bear Stearns shareholder (which I'm not and hope no one on here is)?

Obviously, you have to file a major lawsuit for this right?
Click to expand...

You have to assume that they were basically insolvent to take that price. The question is why nobody knew until now?

Does the market freak out tomorrow? I kinda sorta think so......
 
GreenDoberman

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03-16-2008, 04:30 PM <!-- / status icon and date --></TD><TD class=thead style="BORDER-RIGHT: #fdde82 1px solid; BORDER-TOP: #fdde82 1px solid; FONT-WEIGHT: normal; BORDER-LEFT: #fdde82 0px solid; BORDER-BOTTOM: #fdde82 1px solid" align=right> #11 </TD></TR><TR vAlign=top><TD class=alt2 style="BORDER-RIGHT: #fdde82 1px solid; BORDER-TOP: #fdde82 0px solid; BORDER-LEFT: #fdde82 1px solid; BORDER-BOTTOM: #fdde82 0px solid" width=175>MIMS<SCRIPT type=text/javascript> vbmenu_register("postmenu_5206621", true); </SCRIPT>
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</TD><TD class=alt1 id=td_post_5206621 style="BORDER-RIGHT: #fdde82 1px solid"><!-- icon and title -->
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<HR style="COLOR: #fdde82" SIZE=1><!-- / icon and title --><!-- message -->Quote:
<TABLE cellSpacing=0 cellPadding=6 width="100%" border=0><TBODY><TR><TD class=alt2 style="BORDER-RIGHT: 1px inset; BORDER-TOP: 1px inset; BORDER-LEFT: 1px inset; BORDER-BOTTOM: 1px inset">Originally Posted by GreenDoberman
What if you are a Bear Stearns shareholder (which I'm not and hope no one on here is)?

Obviously, you have to file a major lawsuit for this right?
</TD></TR></TBODY></TABLE>
Defendant would file a 12(b)(8) motion to dismiss for the plaintiff being an idiot and owning the stock
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Do me a favor and stop trying to be funny, because you are not.
 
MIMS

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Do me a favor and stop trying to be funny, because you are not.
Click to expand...

Wtf? Who was trying to be funny? Your lawsuit would not survive a 12(b)(6) motion (which is what I meant to type). Or whatever the state-court-equivalent motion would be. Thanks for being a douche though. Let's hear more of your brilliant opinions.
 
Betallsports

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TTinCO said:
You have to assume that they were basically insolvent to take that price. The question is why nobody knew until now?

Does the market freak out tomorrow? I kinda sorta think so......
Click to expand...

I would think you are right, I see problems in tomorrow market
 

thegambler711

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TTinCO said:
You have to assume that they were basically insolvent to take that price. The question is why nobody knew until now?

Does the market freak out tomorrow? I kinda sorta think so......
Click to expand...


You would think this would be a disaster for the market but dow futures are up right now. Financials should get trashed tomorrow. Buy SKF in the morning.
 
TheFalls

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wow...just saw this

the 14000 employees of Bear own over 25% of the stock....

no early retirements...life changes in the matter of a day..
 
TTinCO

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thegambler711 said:
You would think this would be a disaster for the market but dow futures are up right now. Financials should get trashed tomorrow. Buy SKF in the morning.
Click to expand...

Asian markets tonight ought to be interesting, that's for sure.
 

Cusipz

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Fed just cut 25bp, too.

That's why the futures are up.

And the Fed is guaranteeing up to 30Billion of the deal for JPMorgan. Pretty sweet for them.
 

nctarheelfans

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Sad sad day for many employees and others across the country who own this stock. I was just checking a stock message board and saw post after post of people who had thousands of shares in the 30 or 40's....

Tough way to start off a week knowing you lost about $200,000

God bless those and let's hope they find a way to get back on there feet
 
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