Banking, finance, and taxes
Bear Stearns (BSC) Will Probably Disappear Into JP Morgan (JPM)
Published:
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
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