JP Morgan to Buy Bear Stearns for $2/Share
That is correct…$2 a share. Wow! There is not much more to say…what a stunning collapse for Bear Stearns. The deal is valued at $236.2 million and the Federal Reserve and the U.S. government swiftly approved the all-stock deal showing the urgency of completing the deal before world markets open tomorrow.
Socialize
Also - The Fed just cut 25 basis points, on a Sunday night!