Why Is Bear At 6$ When Its Being Bought For 2$

dsq · Mar 18, 2008

...THINKING that this is a good short maybe since the bsc is basically a chap 7 stock and is just benefitting from the market pop today...what do you all think....please no posts by day7793/hedgefund2/stocktradr3...

prof. charles · Mar 18, 2008

more bids to come maybe?

stock_trad3r · Mar 18, 2008

Deal is already closed. no more bids. Ka-put. Joe Lewis is a fool and he wont get a better price.

S2007S · Mar 18, 2008

If the deal is done why is it trading near $7 and not $2.00 It opened up around $3.50 on Monday, up over 100%.

stock_trad3r · Mar 18, 2008

Idiots in denial think they can salvage the stock. It's quite pathetic, actually.

bt116 · Mar 18, 2008

bid is not a $2 cash bid, its .054 shares of jpm/share of bsc.

stock_trad3r · Mar 18, 2008

Hmm astute. I rescind my comment. its like the microsoft-yahoo deal. its not cash but share conversion. Keep forgetting that.

dumpandbasher · Mar 18, 2008

Quote from bt116:

bid is not a $2 cash bid, its .054 shares of jpm/share of bsc.

But JPM hasn't tripled since Friday.

neutrosphere · Mar 18, 2008

rumors that the deal will not be approved and bsc will be back on open market to whomever. rumor of another bank having interest.

bt116 · Mar 18, 2008

Quote from dumpandbasher:

But JPM hasn't tripled since Friday.

Its a good point. The deal hasn't been approved by shareholders yet, but it didn't read like the type of thing where they had much of a choice with all of the considerations jp was getting.