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From TheDeal.com
Mar 17 19:35 pm
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All Comments by User 5045 »More Questions Than Answers on Bear [View article]
Indeed, J.P. Morgan's CFO, Michael Cavanagh, indicated in a conference call Sunday that the bank is building a $6 billion "cushion" for transaction costs, which includes litigation, severance payments, integration and deleveraging. Taken with the share-payments to Bear shareholders, that gives the broker-dealer a market value of about $44 a share, or $5.2 billion, according to Jefferies & Co. analyst Andy Baker.
That number is still much lower than the $84 a share in book value that Bear reported at the end of November.