JP Morgan Buys Bear Stearns for Pennies on the Dollar; What's It Mean for Tech?

March 16, 2008 at 11:47 pm PT

While not strictly a technology story, JP Morgan’s buyout of Bear Stearns on Sunday is worth looking at in the larger context of the tech industry. As you hopefully know by now, JP Morgan picked up Bear Stearns for $2 a share, a total of $236 million, which is (quite literally) pennies on the dollar for a firm that not so long ago was valued at $170 a share and on Friday alone had tumbled from about $55 a share to $30 a share.

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Tagged with: Bear Stearns, buyout, JP Morgan, Mike Masnick, shares, TechDirt

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