Why Bear is Trading at $7

StockJockey's avatar
by StockJockey
Tuesday, March 18, 2008 - 12:39 pm

From the IM:

BSC—hearing bondholders buying stock up to these levels so they can own enough equity to vote the deal thru. $150b in face bonds. essentially giving up $600mm in market cap [($7-$2)*118mm shares] in order to save billions in bond value.

somebody made the point that if you added jpm’s market cap gain the last two days, and divided by bsc’s shares outstanding, would come out to something like +$70/share!

This is a SOB story

SAVE OUR BEAR!

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