Write-Offs: 03.17.08

Posted by Bess Levin, Mar 17, 2008, 5:05pm

$$$ Deals: A Topsy-Turvy World
In our M&A Roundup for the week ended March 16, tender offer for the maker of "Grand Theft Auto" and purchase of a social networking firm rank near top — while Bear Stearns goes for two bucks a share. [CFO.com]

$$$ CME completes $9.4bn Nymex deal [FT]

$$$ The Evolution of Portfolio's Covers [Gawker]

$$$ Coldwell Banker broker Ray Schmitz, the guy who was standing outside Bear Stearns' headquarters hawking apartments for any BS employees now looking to downgrade. [Curbed]

$$$ New Trial for Ex-Qwest Boss Nacchio [AP]

$$$ KKR: "We do not have any risk from U.S. home loan assets." [FINalternatives]

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Comments

Posted by guest, Mar 17, 2008 5:43PM

How is the Coldwell Banker any different than the whores that (used to) occupy 383 Madison???

Posted by guest, Mar 17, 2008 5:59PM

Instead of the poll on Goldman's Q1 earnings, dealbreaker should do a poll on whether Charles Gasparino will turn out to be Dupre's client 1.

Posted by AJ, Mar 17, 2008 6:19PM

LOL, Bear finally posted a press release about being acquired by JPM late this afternoon. The press release is identical to JPM's and even mentions that they will hold a conference call... Sunday night...

Apparently BSC has already fired there IT people...

Posted by AJ, Mar 17, 2008 6:21PM

Also, they've posted the merger (47 pages) and guaranty (5 pages) agreements...

Posted by guest, Mar 17, 2008 6:51PM

Does anyone else think John Carney's obsession with Rebecca Darst is kind of creepy?

Posted by guest, Mar 17, 2008 10:51PM

All this talk about the Bear Shareholders getting screwed by a $2 whore...what about the 14000 employees... what's better for them? JP Morgan or bankruptcy?!

Posted by guest, Mar 17, 2008 11:26PM

Stalkerish obsession with a CNBC squeeze of the week is de rigeur for hip financial news personalities.

Posted by Anal_yst, Mar 18, 2008 12:20AM

So JPM/BSC Merger Agreement has some interesting (although not exactly unique) pieces in it, e.g. Non Solicitation clause...sooo, Bear can't solicit any alternative offers, unless of course they'd be breaching their fiduciary duty by ignoring any such offers, wow, iron clad agreement indeed...

Posted by AJ, Mar 18, 2008 1:19AM

This whole thing is really worth reading:
http://online.wsj.com/article/SB120580966534444395.html?mod=hpp_us_inside_today

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