Bear Stearns (BSC) Surges As Takeover Talk Heats Up
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Shares of Bear Stearns (NYSE: BSC) are on the move today as takeover rumors, which have surrounded the name since the subprime debacle started, have heated up.
Bloomberg quoted the head of equity trading at Lek Securities, Michael Mainwald as saying "The rumor going around is a $98 cash offer over the weekend."
One market participant suggested to StreetInsider.com, that instead of renegotiating its investment deal with Bear, China's Citic Securities could just buy the entire investment bank. Of course, this could create concerns with US regulators.
Recently, market pundit, Jim Cramer said UBS (NYSE: UBS), Deutsche Bank (NYSE: DB), or Credit Suisse (NYSE: CS) could buy Bear.
Shares of Bear Stearns are up about 5% currently.
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