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Reuters: INSTANT VIEW: JP Morgan to buy Bear, Fed cuts discount rate

Started by dave, March 17, 2008, 03:01:02 AM

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dave

INSTANT VIEW: JP Morgan to buy Bear, Fed cuts discount rate
      


NEW YORK (Reuters) - JPMorgan Chase & Co said on Sunday it would buy stricken rival Bear Stearns for just $2 a share in an all-stock deal valuing the fifth largest investment bank at about $236 million.
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