Bear Stearns Surges on New Buyout Offer
Today it was reported that JP Morgan may be sweetening its offer for Bear Stearns from the original $2 a share to some $10 a share.
Apparently the new talks took place on Sunday as JP Morgan was trying to satisfy disgruntled shareholders upset over the original $2 offer.
The original price for Bear Stearns was part of a deal struck last week at the urging of the Federal Reserve and Treasury Department. The bank was having liquidity problems and was under extreme price pressure from the market.
Bear Stearns (BSC) stock is up substantially today because of the news trading at about $10, or up 67% from last Thursday’s close.
Related Stories
POSTED IN: News
0 opinions for Bear Stearns Surges on New Buyout Offer
No one has left a comment yet. You know what this means, right? You could be first!
Have an opinion? Leave a comment: