Banking, finance, and taxes

Bear Stearns (BSC) Will Probably Disappear Into JP Morgan (JPM)

According to The Wall Street Journal, JP Morgan (NYSE: JPM) is close to buying Bear Stearns (NYSE: BSC), just days after providing financial aid, which was backed by the Fed, to the brokerage.

The paper writes that "Reflecting the dire situation at Bear, the company is likely to fetch considerably less on a per-share basis than its stock price of $30 in New York Stock Exchange composite trading Friday at 4 p.m."

In other words, investors who bought the stock at $90 last month may end up with $9, or less, tomorrow.

Douglas A. McIntyre

Find a Qualified Financial Advisor (Sponsor)

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.