Banking, finance, and taxes
Bear Stearns (BSC) Wiped Out, JP Morgan (JPM) Takes Over
Published:
Most on Wall St. thought it would come to this, but few thought the price would be so low. JP Morgan (NYSE: JPM) will take over Bear Stearns (NYSE: BSC) for $2 a share.
A year ago Bear Stearns traded at nearly $170. The question now is whether the deal will cause a panic in the markets and pull down the shares of other brokerages and banks at the open.
Douglas A. McIntyre
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.