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Market Update : 
JP Morgan Lifts Bear Stearns Bid
Author: 123jump.com Staff
123jump.com
Last Update: 12:45 PM EDT March 24 2008


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JP Morgan agreed to purchase additional 95 million shares and revised the purchase price to $10 per share. The bank after a near revolt from Bear Stearns shareholder, agreed to lift the bid. JP Morgan will also bear the first $1 billion in losses of the $30 billion guarantee offered by the Federal Reserve Bank. Merger is anticipated to be completed on or before April 8, 2008.

 

 

 
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