JPMorgan has raised its offer for collapsing US bank Bear Stearns from $2 to $10 per share. JPM pl...
JPMorgan has raised its offer for collapsing US bank Bear Stearns from $2 to $10 per share. JPM plans to buy 95 million shares, almost 40% of the company. The deal has been agreed by the Boards of both sides and is expected to be completed by 8 April. JPM will also guarantee the first $1bn of any losses associated with Bear Stearns' $30bn emergency borrowing from the Federal Reserve, with the Fed funding the remaining $29bn. The new terms may appease Bear Stears shareholders who stood to lose out from the $2 per share offer.
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