Bear Stearns shareholders approve sale to JP Morgan Chase

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Bear Stearns shareholders approve sale to JP Morgan Chase

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05-30-2008, 11:11 PM

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Bear Stearns shareholders approve sale to JP Morgan Chase

US banking giant, Bear Stearns is no more as its shareholders have approved the $2.2 billion sale to rival JP Morgan Chase. A meeting took place earlier this week at Bear’s headquarters in New York where investors backed the $10-a-share bid. The original offer of $2 a share infuriated some Bear Stearns shareholders who said [...]

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