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Lien du post: http://dealbook.blogs.nytimes.com/2008/03/14/who-could-buy-bear-stearns/
Who Could Buy Bear Stearns?
The Bear Stearns news was jarring enough to interrupt the regularly scheduled programming of many blogs that mostly cover Washington developments or American foreign policy. Across the political spectrum and across the nation, they dug in aggressively on the story over the weekend, updating posts for the latest developments or simply to reiterate their concerns, as Kevin Drum of The Political Animal did this morning:
Felix Salmon submits: There's one detail of the WSJ's weekend narrative which is worth its own blog entry: the way in which the deal to buy Bear Stearns was structured. The lawyers seem to have tried very hard to make the deal airtight, with JP Morgan compelled to buy, and Bear Stearns all but compelled to sell.
The Federal Reserve Bank has decided to extend its own authority in an effort to "stem a credit crisis that is engulfing the financial system and threatening a deep recession, " says the Wall Street Journal. For the first time securities dealers, effective today and for at least the next six months, may borrow from the Fed on much the same terms as banks.
Late Sunday night, JP Morgan Chase agreed to buy cash-strapped investment bank Bear Stearns for $2 a share, or $236 million. Last week, the company was valued at more than $14 billion. This is one of the swiftest corporate falls in history. But just how bad was it? Here's a list of things that cost more than the century-old Bear Stearns.
Mountain View-based instant messaging service Meebo has hired Montgomery & Co. to raise another $25 million to $30 million, only a year after its last round. Reportedly, Meebo founder Seth Sternberg hopes investors will buy in at $250 million, up from $90 million last year. That's $10 million more than what JPMorgan wants to pay for Bear Stearns.
Notable Calls submits: JPMorgan Chase & Co said it bought 11. mm shares of Bear Stearns on the open market. With the purchase, JPMorgan owns about 12. mm Bear shares, or about 8. JPMorgan said it expects to buy more shares, potentially until it owns as much as 49. of Bear Stearns' outstanding shares.
The WSJ wraps up its three-part series on the Bear Stearns Wall Street clusterfuck today, and it is a masterpiece of financial journalism that's a lock for a Pulitzer. Uh, not that we care. In the final installment, various cutthroat maneuvers lead to JP Morgan's bitter $2-per-share salvation of the troubled Bear.
A quartet of Valley veterans has started Cloudera. They're pitching it as "Red Hat for Hadoop. Hadoop is an open-source implementation of Google's MapReduce infrastructure software, supposedly useful for Internet-computing projects. Cloudera plans to offer technical support for Hadoop.
The Federal Reserve said Thursday that it had reduced the estimated value of the Bear Stearns assets that it acquired in June by $2. billion, or 9. percent, as the deepening credit crisis forced more markdowns on mortgage-backed debt. The Fed said the “fair value” of the Bear Stearns assets, consisting of mortgage-backed securities, totaled $26.
Le PDG de Bear Stearns, James Cayne, 73 ans, va quitter son poste à la tête de la banque d'affaires américaine durement touchée par la crise de >
AFP Journal Internet - Le PDG de Bear Stearns, James Cayne, 73 ans, va quitter son poste à la tête de la banque d'affaires américaine durement touchée par la crise de l'immobilier, affirment le Wall Street Journal et le Financial Times dans leur édition électronique.
James Cayne, le PDG de Bear Stearns, pourrait être contraint de céder sa place à la tête de la banque d' affaires américaine, selon le Wall Street Journal et le Financial Times. Un.
Felix Salmon submits: On Friday, I noted that Bear Stearns was trading below its book value ($84. per share), and said that the "next milestone to fall" would take place if the share price dropped past $73. where the bank has a market capitalization of $10 billion.
AFP Journal Internet - La crise des "subprimes" a fait une nouvelle victime à la tête des banques américaines, le PDG de Bear Stearns, James Cayne, 73 ans, ayant été forcé mardi de quitter son poste à cause des pertes enregistrées par la banque d'affaires dans des placements hasardeux.
FP Trading Desk submits: It comes as little surprise that Bear Stearns Co. BSC) has moved golf-loving Jimmy Cayne out of the CEO spot, but both his continued presence as the new chairman of the board and replacement in former president Alan Schwartz means the company’s leadership has not changed much.
Reggie Middleton submits: This is an introduction and precursor to the work being done over at Reggie's laboratory concerning Bear Stearns, who has seen its share price halved since the credit market melee kicked off. A melee that many say the Bear is responsible for igniting. I don't know how fair a comment that is, but I do know one thing, though.
Boursier. com - Bear Stearns revoit son objectif de cours sur .
Boursier. com - Bear Stearns voit des éléments prometteurs dans les comptes trimestriels de .
OnlyEBAY submits: Bear Stearns Upgrades eBay