Banks
Bear Trapped: Alternative to Deal Unlikely
03/19/08 - 05:43 PM EDT
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PLAY BEAT THE STREET GAME NOW
A vote to approve the deal -- even if rejected -- sees JPMorgan with an option to purchase approximately 20% in Bear at $2.34. And it can call for an unlimited number of meetings to vote to approve the deal for a year. Another kicker is that if should another bidder emerges, JPMorgan still walks away with Bear's headquarter building at 383 Madison Ave. in New York, which, by some estimates, is worth $1.4 billion. Know What You Own: Citigroup operates in the financial services industry, and some of the other stocks in its field include Goldman Sachs GS, Morgan Stanley MS, Merrill Lynch MER, Bank of America BAC and Lehman Brothers LEH. These stocks closed at ($166.00, -5.46%), ($43.44, +1.35%), ($42.52, -8.81%), ($38.55, -0.98%) and ($42.35, -8.91%) respectively. For more on the value of knowing what you own, visit TheStreet.com's Investing A-to-Z section.
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