JPMorgan Chase owns 49.78% of Bear Stearns following share purchase

By Lisa Kerner

Charlotte, N.C., April 15 - JPMorgan Chase & Co. beneficially owns 119,855,914 shares, or some 49.78%, of Bear Stearns Cos., Inc. common stock as of April 14, it was reported in a schedule 13D filing with the Securities and Exchange Commission.

According to the filing, on April 11 and April 14 JPMorgan bought a total of 3,298,600 shares of Bear Stearns common stock. Each share was priced at $9.98 or $10.14.

Bear Stearns and JPMorgan announced the completion of their share exchange on April 8.

As previously reported, JPMorgan purchased 95 million newly issued shares of Bear Stearns common stock, or 39.5% of the outstanding Bear Stearns common stock, in exchange for 20,665,350 shares of JPMorgan common stock.

JPMorgan had agreed to acquire Bear Stearns for $10.00 per share.

JPMorgan is a New York financial services firm with assets of $1.6 trillion and operations in more than 60 countries.

Bear Stearns is an investment banking, securities and derivatives trading, and clearance and brokerage company based in New York.

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