JPMorgan Chase reports purchase of additional Bear Stearns shares

By Lisa Kerner

Charlotte, N.C., April 21 - JPMorgan Chase & Co. reported the purchase of 202,000 shares of Bear Stearns Cos., Inc. common stock on April 15 for a total of $2.19 million.

The transaction was reported in a schedule 13D filed with the Securities and Exchange Commission.

JPMorgan owns 119,731,114 shares, or some 49.73%, of the New York banking and investment firm.

According to a prior SEC 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.

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