Posted Mar 17, 2008, 8:51 AM
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Registered User
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Join Date: Aug 2006
Posts: 247
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Bear Stearns, the fifth largest US bank, is over. JP Morgan has agreed to buy the company under Fed Pressure .... for a symbobic 1£ per share. BS shares peaked at 169$ last year and closed down at 30$ on Friday after its CEO warned of imminent collapse. JP Morgan announced many of its 14,000 employees will be laid off.
Bear Stearns was due to move into its new European Headquarters that is under construction at 5 Churchill Place.
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