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Article: Buyout vote writing end to Bear Stearns; Shareholders expected to approve acquisition by JPMorgan today.(Business)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- May 29, 2008
CopyrightCOPYRIGHT 2008 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Associated Press
NEW YORK - One of the biggest corporate casualties of the global credit crisis, Bear Stearns Cos., is about to vanish into history.
The company brought to the verge of bankruptcy amid heavy mortgage-related losses is expected to become part of JPMorgan Chase & Co. after a vote today by Bear Stearns shareholders. But while the vote will seal the buyout deal brokered by the Federal Reserve, the debate about the 85-year-old company's demise will continue as analysts, academics and politicians try to decide exactly what went wrong.
"The second-guessing will be enormous," said Richard X. Bove, a financial strategist with ...