[Ernest_at_the_Beach]

Where are you getting that price...? Bloomberg still said 20 per share....Hmmm!

Bear Stearns, JPMorgan Strive for Sale, People Say (Update2)

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Last Updated: March 16, 2008 18:00 EDT

[spyone]

The bloomberg article is from early today...the $2 is coming across all the wires and CNBC...at first I though someone left out a zero...so did the tv guys....but it’s no mistake...$2

[KarlInOhio]

Business wire had this:

The transaction will be a stock-for-stock exchange. JPMorgan Chase will exchange 0.05473 shares of JPMorgan Chase common stock per one share of Bear Stearns stock. Based on the closing price of March 15, 2008, the transaction would have a value of approximately $2 per share.

Chase was 36.54 at Friday's close, so that comes to $2. Essentially Chase is saying that other than the HQ building, the rest of Bear Stearns has about a negative billion dollar value.