Bove Says JPMorgan Taking Too Much Risk With Bear Bid: Video

Richard Bove, managing director at Punk Ziegel & Co., talks with Bloomberg's Monica Bertran and Erik Schatzker about JPMorgan Chase & Co.'s decision to increase its offer for Bear Stearns Cos. in an effort to overcome opposition from the shareholders of the crippled securities firm. Bear Stearns shareholders will receive 0.21753 JPMorgan shares for each Bear Stearns share they hold, the New York-based firms said in a statement. That values Bear Stearns shares at about $10 apiece. Under the terms of the deal the two firms struck March 16, the takeover price had been $2.52, based on last week's closing price. (Source: Bloomberg)

Bloomberg | March 24, 2008

Tags:. .Bloomberg. .Audio. .Video. .Reports