JP Morgan to Buy Bear Stearns at $2 a Share
This is the latest news in US.
Bear Sterns is a company that was trading at around $170 in February last year is now to be overtaken by JP Morgan at just $2 a share.
The Federal Reserve’s attempt to induce cash in to struggling companies and to avert a financial slowdown did not do much good for Bear Sterns as investors are still and customers still drove the price of Bear Sterns down after the cash infusion was announce.
At the moment, the whole market is not only very cautious but also very volatile.
It will be a matter of the smartest and the less debt ridden company will win in the end.
For more story on this go to Bloomberg.com
