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    Repiglican Roast

    A spirited discussion of public policy and current issues

    Name:
    Location: The mouth of being

    I'm furious about my squandered nation.

    Friday, March 28, 2008

    Bear Stearns Chairman Sells $61.3 Million Of Stock

    [...]

    Some investors were clearly hoping JPMorgan Chase would increase its bid again, or that Bear Stearns would find another buyer, because Bear Stearns shares closed on Thursday at $11.23 on the New York Stock Exchange, about 20 percent above the current value of JPMorgan's offer.

    If getting a higher price were likely, Cayne would be unlikely to sell his shares.

    Bear's share price fell about 5 percent in after market trading to $10.68. The share sale took place on March 25 but was disclosed in a document after the market closed on Thursday.

    [....]

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