JPMorgan Chase Says It Will Acquire Bear Stearns for $2

[Danascot]

Bwahahaha!

I'm subscribed to NY Times News Alerts and this is how the subject of a news alert read ... the "a share" part was cut off.

Breaking News Alert
The New York Times
Sunday, March 16, 2008 -- 7:18 PM ET
-----

JPMorgan Chase Says It Will Acquire Bear Stearns for $2 a Share

Bear Stearns, facing collapse because of the mortgage crisis,
agreed Sunday evening to be bought by JPMorgan Chase for a
bargain-basement price of less than $250 million, the two
companies announced.

The all-stock deal values Bear Stearns at about $2 a share,
based on JPMorgan's closing stock price on Friday, the
companies said. In contrast, shares of Bear Stearns, which
fell $27 on Friday, closed at $30.

Read More:
http://www.nytimes.com/2008/03/16/business/16cnd-bear.html?_r=1&hp&oref=slogin

[MercutioATC]

1. I'd love to see how many of the big players still owned Bear on Fri at close of business.

My bet is zero.