Bear Stearns (BSC) Trading Nearly $5 Above Agreed Upon Takeover Price

Bear Stearns (NYSE: BSC) is trading at $7.00 per share, well above the stock-for-stock deal (0.05473) with JPMorgan which is worth $2.30 based on the current stock price.

There are plenty of rumors swirling around Bear today including: JPMorgan is buying stock on the open market and will raise its bid to gain shareholder approval, or large Bear Stearns investors (like Joe Lewis) are driving the stock up so shareholders don't approve the deal. The are also rumors a foreign buyer is sniffing around and could pay more.

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