JPM $10 BUYOUT OＦBSC IS A DONE DEAL

小小草

and $10 that is it.

NO MORE SPECULATION ON IT.

NEW YORK (Reuters) - James Cayne, Chairman of Bear Stearns Cos Inc (NYSE:BSC - News) sold $61.3 million of his shares of the company according to a filing on Thursday, signaling the bank's shareholders are unlikely to get a higher price for their shares.

The banks helped ensure the deal would be approved earlier this week when JPMorgan agreed to buy 95 million newly issued Bear Stearns shares, equal to a 39.5 percent stake in the company.

小小草

JPMorgan agreed to buy 95 million newly issued Bear Stearns shares, equal to a 39.5 percent stake in the company.

If needed, they can keep issuing new shares to get it approved, 40% already has the veto power of the shareholders decision.

fatrebate

In addition, Schwartz said Bear Stearns is able to bypass shareholder approval because "securing stockholder approval would seriously jeopardize the financial viability" of the company. About one-third of the company's shares are owned by Bear Stearns' 14,000 employees.