Notable Mergers and Acquisitions of the Day 3/17 (JPM/BSC, CME/NMX, HRB)

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March 17, 2008 9:40 AM EDT

StreetInsider.com Notable Mergers and Acquisitions of the Day:

JPMorgan Chase & Co. (NYSE: JPM) announced it is acquiring The Bear Stearns Companies Inc. (NYSE: BSC). The Boards of Directors of both companies have unanimously approved the transaction.

The transaction will be a stock-for-stock exchange. JPMorgan Chase will exchange 0.05473 shares of JPMorgan Chase common stock per one share of Bear Stearns stock. Based on the closing price of March 15, 2008, the transaction would have a value of approximately $2 per share.
CME Group Inc. (NYSE: CME) and NYMEX Holdings, Inc. (NYSE: NMX) signed a definitive agreement under which CME Group will acquire NYMEX Holdings, the parent company of New York Mercantile Exchange, Inc. on the terms previously announced.

Under the terms of the definitive agreement, shareholders of NYMEX will receive total consideration equal to 0.1323 shares of CME Group Class A common stock and $36.00 in cash for each share of NYMEX common stock outstanding, or an aggregate of approximately 12.5 million shares of CME Group Class A common stock and cash of $3.4 billion.
Wilbur Ross, CEO of WL Ross & Co. LLC, announced today that the firm, through its affiliate, AH Mortgage Acquisition Co., Inc., had agreed to acquire from H&R Block (NYSE: HRB) the Option One mortgage servicing business and related advances for approximately $1.1 billion.