JPMorgan to buy Bear Stearns for $2/share

Agencies
Posted: Monday, Mar 17, 2008 at 1237 hrs IST
Updated: Monday, Mar 17, 2008 at 1259 hrs IST

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New York, March 17:: our firm, and we are glad to be their partner."

"This transaction helps us fill out some of the gaps in our franchise with manageable overlap," said Steve Black, co-CEO of JPMorgan Investment Bank.

Meanwhile, the Journal said, worries are deepening that other securities firms and commercial banks might be on shaky ground. The decision came after a series of calls Saturday to both senior executives at the firm and Treasury Secretary Henry Paulson, these people say....

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