jpm about to take over bsc for $2.2bln or about $17 a share.
just last year, bear stearns was over $25bln in market value.
bear went ipo on 10/1985 at an adjusted $5.96 a share.
****** 2 hours later *********************
that wsj report is incorrect.
the current horror story is that jpm stock swap for bsc shares at $2 or $240 millions total.
the fed also cut the discount rate on a sunday night to 3.25% from 3.50%.
puzzling action!
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