JPMorgan feeds hungry Bear shareholders
JPMorgan Chase upped its offer to buy Bear Stearns five-fold, to $10 per share, in an effort to calm angry shareholders.
In an effort to calm angry shareholders, JPMorgan Chase & Co. increased its offer to purchase The Bear Stearns Cos. Inc. by five-fold to $10 per share, amending the $2 purchase price that was agreed to a week ago.
In mid-afternoon trading Bear Stearns shares had risen $6.04, or 101%, to $12.00.
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