Less than the value of its real estate.
Incredible. Bear Stearns goes from $20 billion market valuation last summer down to 1.5% of the value in less than a year, after operating 85 years as an independent company. Driven down by market participant's lack of trust and speculation.
The Manhattan real estate is probably worth the price tag itself. JPMorgan took no risks in getting this business. It is robbery of grand scale, indeed.
Incredible. Bear Stearns goes from $20 billion market valuation last summer down to 1.5% of the value in less than a year, after operating 85 years as an independent company. Driven down by market participant's lack of trust and speculation.
The Manhattan real estate is probably worth the price tag itself. JPMorgan took no risks in getting this business. It is robbery of grand scale, indeed.
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