Skip navigation
Watchlist Sponsored By :
Bear Stearns Video Gallery
The former chief economist at Bear Stearns on inflation, unemployment and the Fed's new role.
The former chief economist at Bear Stearns on inflation, unemployment and the Fed's new role.
Bear Stearns CEO Alan Schwartz tells CNBC's David Faber about the firm's financial condition and denies reports some inv...
A CNBC team of experts reacts to JPMorgan Chase's weekend purchase of Bear Stearns for $2 per share, engineered the the ...
Breaking developments on the Federal Reserve's plan to rescue Bear Stearns by providing a loan to JPMorgan, which, in tu...

Current DateTime: 05:00:01 12 Jul 2009
LinksList Documentid: 24355697
  • Highest Grossing Movies

      What are the highest grossing movies of all time, adjusted for inflation? Click ahead to find out!

  • Most Expensive Places To Live

      Each year, Mercer Consulting assembles its ranking of the most expensive places to live. Mercer compiles information from 143 cities worldwide.

  • Recession-Resistant US Cities

      Some cities have been hit much harder than others during the recession. Here are the metro areas faring the best.


Current DateTime: 05:00:01 12 Jul 2009
LinksList Documentid: 24890560
  • Boom, Bust and Blame

      The inside story of the economic crisis that has gripped the entire world.

  • E3: Gaming's Cutting Edge

      North America's premier computer and video game trade show draws tens of thousands of professionals to experience the future of interactive entertainment.

  • The Fall of GM

      A look into the fall of General Motors as the automaker heads toward bankruptcy and an effective nationalization.

Bear Stearns Being Shopped to Chase, Other Banks
By: CNBC.com | 14 Mar 2008 | 11:45 AM ET
Text Size

Bear Stearns is actively being shopped to a potential acquirer, and not just to JPMorgan Chase, CNBC has learned.

JP Morgan [JPM  Loading...      ()   ] is the most likely candidate to buy Bear [BSC  Loading...      ()   ] right now, considering that the emergency financing from the Fed is being arranged through JP Morgan. But people familiar with the situation say other banks are being approached as well.

Analysts have been speculating for months about a possible acquisition of Bear Stearns, which has been hurt badly by the subprime mortgage crisis. Even so, Bear chief executive Alan Schwartz said in early January that being acquired is not a strategy for the firm.

Read Live Blog From Bear Stearns Conference Call.

But as the credit crisis has increased, so has the possibility of more bank mergers. 

Bank of America agreed in January to acquire battered mortgage lender Countrywide Financial [CFC  Loading...      ()   ] for a knock-down price of $4 billion in stock.

Takeover speculation since then has centered on such banks as Washington Mutual [WM  Loading...      ()   ], First Horizon National [FHN  Loading...      ()   ], National City and KeyCorp.

"Transactions happen when times are good and valuations are high and they happen when times are very difficult and you have some forced sellers," said Sean Egan, managing director of independent credit-rating firm Egan-Jones Ratings, said after the Countrywide acquisition.

"Washington Mutual probably heads up the list (of targets) because they have similar problems to Countrywide," said Egan, adding: "Bear Stearns is an obvious candidate for some sort of transaction."

© 2009 CNBC.com
Tools:
Print EmailAdd This share icon


Current DateTime: 01:05:38 12 Jul 2009
LinksList Documentid: 29778428

Current DateTime: 01:05:47 12 Jul 2009
LinksList Documentid: 29779196

Current DateTime: 01:05:38 12 Jul 2009
LinksList Documentid: 29779199

Current DateTime: 01:05:47 12 Jul 2009
LinksList Documentid: 29779198
CNBCCNBC
About CNBC  |  Site Map  |  Privacy Policy  |  Terms of Service  |  Video Reprints  |  Advertise  |  Help  |  Contact
Partners: AOL Money  |  BloggingStocks.com
CNBC is a Division of NBC Universal
  Data is a real-time snapshot *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
Thomson ReutersThomson Reuters