Joined: Mar 2006
Posts: 425
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 Mar 21, 2008, 03:28:53 PM | #1 |
If you have checked the trading price of Bear Stearns Company (BSC) stock in the four days since the company was sold to J.P. Morgan Chase for $2 per share in J.P. Morgan stock, you might well wonder why it is trading at more than twice the price J.P. Morgan is supposedly paying for it.
Doesn't make a lot of sense unless you follow the reasoning of some market players and a lot of Bear Stearns stockholders. A deal isn't a deal until it is done.
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Well at least two are unlikely to do so. The Wall Street Journal is reporting that Joseph Lewis, a little-known British billionaire who apparently owns 12.1 million shares of BSC stock (8.35 percent of the total shares outstanding) is hinting that he may attempt to round up other investors to fight the takeover. Mr. Lewis was buying shares of BSC as recently as March 13 when he paid $55.13 a share.
http://www.mortgagenewsdaily.com/3212008_Bear_Stearns_Price.asp |
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