Deals of the Day: What Fresh Hell Is This?

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. [WSJ]
The Week That Shook Wall Street: Inside the demise of Bear Stearns. [WSJLehman Brothers: The firm, which reports earnings today, is at the center of this new storm where the market runs on rumors rather than hard facts. Options traders bet against the firm. [WSJ and New York Post]
Bear Stearns: Workers reflect on this nightmare, which wiped out their life savings in many cases. One former Bear board member says: “Wall Street is really predicated on greed. This could happen to any firm.” [WSJ]
Investment Banks: How does the Bear Stearns mess affect their valuations? This Heard on the Street column takes a look. [WSJRecruiters: Time to call. [WSJ]
383 Madison: Is J.P. Morgan coveting thy neighbor’s building? [WSJ]
The SEC: It can only do so much. [WSJ

Mergers & Acquisitions

Blackstone-ADS: Alliance Data says Blackstone is stalling. [WSJ]
BHP-Rio: Chinalco is more likely to raise its Rio stake than cut it. [Reuters]
Alitalia: It is meeting with unions on its bid for Air France. [Reuters]

Capital Markets

World Markets: After this Bear debacle, no one trust who they’re trading with anymore. [WSJ]
Repos: Short-term repurchase agreements, loans of the kind that Bear depended on, are trading lightly. [WSJ]