The $240 Million Acquisition Of Bear Stearns

Filed in archive Hedgetalk on March 17, 2008

JPMorgan Chase & Co. announced the acquisition of Bear Stearns Companies Inc. The Boards of Directors of both companies have unanimously approved the transaction.

Based on the closing price of March 15, 2008, the transaction would have a value of approximately $2 per share, a total of $240 million.

"JPMorgan Chase's management team has a strong track record of effective merger integration," said Heidi Miller, CEO of JPMorgan Treasury & Securities Services business. "We will work closely in the coming weeks with Bear Stearns' clients and management to execute the transaction quickly."

JPMorgan Chase & Co. is a leading global financial services firm with assets of $1.6 trillion and operations in more than 60 countries.

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