JPMorgan Offers $10 Per Share for Bear

From AP: JPMorgan raises Bear purchase price JPMorgan Chase & Co. increased it offer Monday for Bear Stears Cos. to $10 per share from a bargain-basement price of $2 per share, hoping to assuage shareholders of the ailing investment bank. …The new agreement also calls for the Federal Reserve — which helped broker the emergency deal to save Bear Stearns from failure — to provide slightly less financing. JPMorgan will bear the first $1 billion of any losses linked to Bear Stearns assets being financed, while the central bank will put up the remaining $29 billion….
Original Source: feeds.feedburner.com/CalculatedRisk

  24 March, 2008| housingblogs | @ 16:05

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