Teddy Bear cheap sale.

Bear Stearns Cos-the mighty teddy bear has found its suitor who's bidding for this little antique.
JPMorgan, has originally bid on March 16 of $2 per share for the 85-year-old Wall Street investment bank.,what a song!!
Disgruntled Bear shareholders such as British billionaire Joe Lewis,who has before the March 14 closing price of Bear shares of $30.85 has accumulated a substantial stake and was very furious about the bidding price offered.It was more than 90 percent below Bear's all time peak level of over $170.
Bear, recently ranked as the fifth-largest U.S. investment bank, collapsed as large subprime mortgage losses and falling confidence in the company prompted a run on the bank.
So with all the tremendous pressures exerted on JP Morgan on the fire-sale price,it finally raised its offer to about $10 a share.Under the revised deal, each share of Bear Stearns common stock will be exchanged for 0.21753 share of JPMorgan common stock. The previous exchange offer was 0.05473 JPMorgan share for each Bear Stearns share.
JPMorgan expects to complete the purchase of the new Bear shares by April 8. A date for Bear's shareholders to vote on the deal has not been set.
Tracking the Dow on Monday,24/03/08

A tremendous post holiday booster.Bear shares surged 76 percent to close at $11.25, as some investors speculated on an even higher offer. JPMorgan shares, which have climbed more than 25 percent since the deal was announced, rose 1.3 percent to close at $46.55.
Looks like too many shooting stars along the space tunnel and towards the closing were seen two Mike Hammer going to steal the teddy bear from the antique store.

The journey towards the bull county at 12,894.35 index point is quite achievable in the near term.Meantime we'll still be held up in the bear county.