A********a
发帖数: 133 | 1 JPM agreed to buy Bear using share swap, which was worthy 2USD/share at the
time, not BS share has hovered around 6-8/share, there are multiple
explanations, bond holders buy to vote to save their bond values, big
shareholders consolidate their positions to veto the buy, hoping there will
be a high bidder, could shareholders paly brinkmanship to grab a higher
prices, maybe some risk arb experts can explain more? | S*****H
发帖数: 90 | 2 Shareholders may or may not be able to get more. If JPM walks away, BSC will
colapse. Shareholder's choice is limited.
JPM could sweeten the deal a little bit if it becomes necessary. It
does not need to. Even if the deal fails at the first attemp, JPM is
entitled to buy 19.9% of BSC at $2. This gives JPM more influence
to succeed the deal.
A higher bidder is unlikely. Remember, the deal has bless of Federal
reserve. No other bank want muddle in it, and anger the government.
Further more, if ano | T*******t
发帖数: 9274 | 3 专业的就是不一样啊。呵呵。
JPM买BSC，天时，地利，人和，占全了。
等bsc的shareholder冷静下来，他们会意识到$2.xx比$0还是好多了。
will
make
【在 S*****H 的大作中提到】
: Shareholders may or may not be able to get more. If JPM walks away, BSC will
: colapse. Shareholder's choice is limited.
: JPM could sweeten the deal a little bit if it becomes necessary. It
: does not need to. Even if the deal fails at the first attemp, JPM is
: entitled to buy 19.9% of BSC at $2. This gives JPM more influence
: to succeed the deal.
: A higher bidder is unlikely. Remember, the deal has bless of Federal
: reserve. No other bank want muddle in it, and anger the government.
: Further more, if ano
| o******k
发帖数: 39 | 4 Now a lot of traders and shareholders are betting this game: buy CDS
protection, call option and veto the buy. If the buy fail, they get money
from CDS. Or JPM raise the bid, they will get money from option and shares.
The problem is JPM has a lot of mutual trades with Bear. So if BSC bankrupt,
JPM will get hurt too. Another problem is the bid is so low that there are
ample of arbitrage opportunities. So it is really complicated. And no none
know what will happen. I believe JPM will raise the bi | t*******s
发帖数: 492 | 5 compared to the $300b balance sheet, the equity part is nothing. Any small
asset swing will be much bigger than total equity. $2 or $3 really doesn't
matter very much to JPM. JPM needs to be very careful about the assets. At
the same time, I'm pretty sure Fed will babysit the deal to make sure it's
done smoothly, bondholders as well.
.
bankrupt,
are
【在 o******k 的大作中提到】
: Now a lot of traders and shareholders are betting this game: buy CDS
: protection, call option and veto the buy. If the buy fail, they get money
: from CDS. Or JPM raise the bid, they will get money from option and shares.
: The problem is JPM has a lot of mutual trades with Bear. So if BSC bankrupt,
: JPM will get hurt too. Another problem is the bid is so low that there are
: ample of arbitrage opportunities. So it is really complicated. And no none
: know what will happen. I believe JPM will raise the bi
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