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Chase in Talks to Buy J.P. Morgan

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    Chase (CMB) is in talks to acquire J.P. Morgan (JPM), The New York Times reported Tuesday afternoon, citing an executive close to the deal.

    TheStreet.com has provided extensive coverage on this potential deal, as well as the overall merger frenzy in the financial-services sector in the past few weeks, as big investment banks jockey for position in a rapidly consolidating sector.

    J.P. Morgan, the storied New York investment bank that has rallied sharply in recent weeks amid speculation it would be taken over, jumped again Tuesday, adding $10, or 5.9%, to $179.31. Chase slid $1.31, or 2.2%, to $56.19.

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