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Repiglican Roast

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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.

[....]

Labels: Bear Sterns. JP Morgan Chase. Unregulated Corporate Interests

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