NEW YORK (Reuters) - Bear Stearns Cos (NYSE:BSC - News) could fetch a higher takeover bid from JPMorgan Chase & Co (NYSE:JPM - News), and at $6 its shares constitute a "reasonable speculative bet" that one will be forthcoming, Barron's said in in March 24 edition.On March 16, the stricken Bear agreed to a $236 million all-stock buyout by JPMorgan, valuing the company at about $2 per share. That value has since risen to about $2.52 per share because JPMorgan stock has since risen.
Bear shares closed Thursday at $6.39, a premium to the merger price, because some investors hope the company will find another buyer or JPMorgan will increase its offer.
The merger requires shareholder approval. Some investors, including Joseph Lewis, who has lost some $1 billion on his Bear investment, have said the terms could be better.
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