Category: Deals of the Day: The Bear Stearns Empire Strikes Back

Deals of the Day includes all the major news of the morning related to mergers and acquisitions and financing. For breaking deal news, turn to the WSJ’s Deals & Deal Makers page, or click here to automatically sign up for Deals Alert emails.
Today in Bear Stearns
The empire strikes back, as outrage about the $2 a […]

The hedge-fund party may be over in Asia. After years in which the number and assets of Asia-focused hedge funds have steadily risen, prime brokers and hedge fund managers say they expect a larger number of managers to fold up the tent this year–not so much because they are decimated by subprime debt losses, as […]

Josef Ackermann, the normally bullish 60-year-old head of Deutsche Bank, is sounding glum these days. Having spent the past week in New York, including a chat with former Federal Reserve chief Alan Greenspan, Ackermann concluded that the situation in the markets amounted to a “meltdown” where “confidence seems to have vanished.”
“I have just spent a […]

It is day two of the Bear Stearns saga. Not surprisingly, it still is dominating the news. So here is a look at articles and blog posts from around the Web:
It wasn’t just the $2-a-share price or the speed at which the deal took place that made J.P. Morgan Chase’s deal to acquire Bear unusual, […]

Deal Journal riddle: If you were beginning your career at Bear Stearns tomorrow and could join any area of the firm, where would you choose to work?
Here’s a suggestion: Bear Stearns Merchant Banking.
Described as an affiliate of Bear Stearns, BSMB is really a standalone operation, with roughly 50 professionals managing about $5 billion. […]

Lehman Brothers has been buffeted by market sentiment in the past few days in much the same way that Bear was before its sale. Deal Journal brings up an updated version of today’s earnings conference call. (Click here to watch our colleagues over at Marketbeat live-blog the Goldman Sachs Group call.)
Erin Callan, the firm’s new […]

The credit crunch has exposed vulnerabilities of investment banks that no one knew they had. Bear Stearns, we now know, was highly dependent on the kind of short-term loans called “repos,” or short-term repurchase agreements. And those repos led to the downfall of the firm.
SELLING BEAR
 

See all of Deal Journal’s posts on the fall […]

Deals of the Day includes all the major news of the morning related to mergers and acquisitions and financing. For breaking deal news, turn to the WSJ’s Deals & Deal Makers page, or click here to automatically sign up for Deals Alert emails.
Financial Institutions
$2 a share for Bear?: Don’t hold your breath waiting for more. […]

Citigroup Inc. executives may want to get out a map of India and look for Punjab.
Presumably Indian-born Chief Executive Vikram Pandit knows where it is, but others should familiarize themselves with the northwestern Indian state since one of its big banks, Centurion Bank of Punjab Ltd. recently agreed to merge with HDFC Bank Ltd., one […]

J.P. Morgan Chase & Co. has begun examining the operations of Bear Stearns Cos. as far away as Asia, raising questions about what the two firms will look like when combined.
On Monday, Gregory Guyett, J.P. Morgan’s top man in Japan, visited Bear Stearns offices in Tokyo, according to several people at Bear. A handful of […]