Bear Stearns' (BSC) Shareholders Get A Gift Today

Bear Stearns' (NYSE: BSC) shareholders get a gift today. The shareholders who were left owning Bear Stearns were expecting to receive only $2 per share, but for some unknown reason Bear Stearns is now trading up at $5.33 today. I don't know who else can come in and get a $30B gift from the fed. JP Morgan (NYSE: JPM) had a previous relationship with Bear Stearns backing up some of its credit lines.

So I assume people who have been long Bear Stearns for awhile will likely be selling today for $5 a share versus the JP Morgan offer price of $2. But, the real question is, who the heck is buying Bear Stearns today? [JT]

You can learn how deal arbitrage works in the below book.
The Disciplined Investor - Essential Strategies for Success
Use code "insider" for a 15% discount

You May Also Be Interested In

• After-Hours Stock Movers: MU, WDC, SNDK, QCOM, JPM
• 5.5 magnitude earthquake strikes Northern California - EMSC
• Honeywell Aerospace to Join S&P 500 & S&P 100; Others to Join S&P MidCap 400 and S&P SmallCap 600