JPMorgan to buy Bear Stearns for $2 a share

  • Story by: Sharon Flaherty
  • Magazine: FTAdviser
  • Published Monday , March 17, 2008

JPMorgan Chase is to buy Bear Stearns at a cut price of $2 a share (£0.98) giving it a total tag of around $236.2m (£116.5m).

Advertising

The sale comes after the US investment bank, Bear Stearns was forced to seek emergency funding last week after admitting its liquidity position had deteriorated badly.

The surprising last minute sale represents a move to prevent Bear Stearns from bankruptcy.

However the sale will do nothing to stop the spreading worries about the state of the global financial system.

FTAdviser BLOGS RSS

Latest Post  

First signs of a double dip?: Richard Sexton

The Royal Institute of Chartered Surveyors has just issued its latest survey of members re... read more

SIGN UP TO NEWS ALERTS



FT Adviser Blogs

FTAdviser's Blogs offer daily commentary and analysis, as our writers vent spleen about the latest developments impacting on the intermediary market.

To read the latest blogs click here

FTAdviser  Jobs  RSS

More positions