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    Repiglican Roast

    A spirited discussion of public policy and current issues

    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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