Conspiracy Zombies rejoice in streets: CHASE may buy J.P.MORGAN

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NOW WATCH ALL THE CREEPS COME OUT AND POST ABOUT THE "FEDERAL RESERVE" or "ILLEGAL IRS TAXES" and the rest of the CLAP TRAP BS THEY PUSH OFF ON EQUALLY ***ILLITERATE*** PEOPLE LIKE "KOS.hit". Chase in Talks to Buy J.P. Morgan-Source

By Mary Kelleher

NEW YORK (Reuters) - Chase Manhattan Corp. (NYSE:CMB - news), the No. 3 U.S. bank holding company, is in serious talks to buy leading commercial and investment bank J.P. Morgan & Co. Inc. (NYSE:JPM - news), to fortify its securities businesses in a rapidly consolidating industry, a source close to the deal said on Tuesday.

A deal, which analysts have estimated could be worth as much $35 billion, or $210 to $220 per J.P. Morgan share, would rank as one of the largest in the U.S. financial services industry and create a global banking powerhouse. It could be announced as soon as Tuesday night or early Wednesday morning. The source said the boards were meeting now.

Chase and J.P. Morgan spokesman declined to comment.

Employees leaving J.P. Morgan's headquarters on 60 Wall Street told Reuters they were told to expect an announcement about a merger late Tuesday or on Wednesday morning. Senior executives told one support staffer Chase was the buyer.

The New York Times first reported the story on its Web site. Exact details of the deal were not yet available.

``The rumor is $210 a (J.P. Morgan) share,'' Steven Eisman, an analyst at CIBC World Markets, said.

The possible acquisition would propel Chase toward its long-stated aim of joining the top Wall Street investment banks like Merrill Lynch and Co. Inc. (NYSE:MER - news) and Goldman Sachs Group Inc. (NYSE:GS - news), and also follows a spate of industry mergers.

J.P. Morgan, for its part, has been under pressure to do a deal because it risks being left behind as the world's biggest banks merge with each other to form a shrinking number of global financial players.

J.P. Morgan -- whose founder played a pivotal role in saving the U.S. government from financial panic in the early 1900s -- has not done a major deal since it merged with Guaranty Trust Co. of New York in 1959. It has stood by as a string of European banks quickly snapped up its U.S. rivals.

``We're going to get money out of them either way,'' a tech consultant who works for J.P. Morgan, said of a prospective buyer. ``I'm not worried.''

The combined company would rank 7th (fixes ranking) among firms engaged in the lucrative business of advising U.S. companies on merger deals, ranking behind Wasserstein Perella Group and Goldman, as well CS First Boston and DLJ, based on data from Thomson Financial Securities Data.

Chase's stock fell $1-7/16 to close at $56-1/16 while shares of J.P. Morgan, one of the 30 companies making up the benchmark Dow Jones Industrial average, rose $8-3/4 to close at $177-3/4. Earlier on Tuesday, they hit a record high of $180 on the New York Stock Exchange. In after-hours trading on the Instinet electronic trading system, J.P. Morgan's stock shot up to $184-7/8 while Chase's fell to $52-1/4.

J.P. Morgan, the nation's fifth biggest bank holding company with some $266 billion in assets, has been a long-rumored takeover target for its lucrative money management unit, world famous brand name, long list of corporate customers, and global reach. Its name was also tied to Germany's Deutsche Bank (DBKGn.DE) in the rumor mill.

J.P. Morgan Chief Executive Douglas Warner canceled an appearance at a Merrill Lynch conference on Tuesday, further fueling incessant takeover speculation around the bank. Its chief financial officer, Peter Hancock, also quit last week.

The talks follows a blitz of mergers in the financial industry which many say have put the heat on the remaining Wall Street firms to strike a deal to compete.

Switzerland's UBS AG (UBSZn.S) recently announced plans to buy Wall Street brokerage PaineWebber Group Inc. (NYSE:PWJ - news) and Credit Suisse Group Inc. (CSGZn.S) snapped up Donaldson Lufkin & Jenrette (NYSE:DLJ - news), another rival.

Chase has made no secret of its desire to expand its business of advising companies on mergers and helping with new stock and bond offering deals.

In the last two years, Chase bought West Coast investment bank Hambrecht & Quist, British money manager and investment bank Robert Fleming Holdings and investment banking boutique Beacon Group to build up its mergers and acquisition advisory business and corporate finance arm.



-- cpr (buytexas@swbell.net), September 12, 2000

Answers

MEANWHILE, GOLD IS DOWN THE TUBES THANKS TO CENTRAL BANK SALES AND THE EURO to DOLLAR slide. ANOTHER OF BRER DUCT TAPE AND HIS DISCIPLE SLEEZY ED"S ...........GREAT PICKS. GARY AT $320/oz. and now we see LOW 270s".

Of course, according to them, gold is not an "investment". Its "insurance". LIKE FREAKING ..........COMET INSURANCE.

-- cpr (buytexas@swbell.net), September 12, 2000.


Looks like a job for White Text Man.

-- KoFE (your@town.USA), September 12, 2000.

I knew this was coming. Chase Manhattan, JP Morgan, doesnt' matter much, they are all the same thing... New World Order. The elimination of the legislative barriers against financial monopolies last year was the first step. This merger will eventually become The New World Order Bank, and they will have complete control over every financial aspect of your lives.

Total Global Domination is well under way. Resistance is futile. You WILL be assimilated.

-- (brave@new.world), September 12, 2000.


NEW YORK (Reuters) - Chase Manhattan Corp. (NYSE:CMB - news), the No. 3 U.S. bank holding company, is in serious talks to buy leading commercial and investment bank J.P. Morgan & Co. Inc. (NYSE:JPM - news), to fortify its securities businesses in a rapidly consolidating industry, a source close to the deal said on Tuesday.

A deal, which analysts have estimated could be worth as much $35 billion, or $210 to $220 per J.P. Morgan share, would rank as one of the largest in the U.S. financial services industry and create a global banking powerhouse. It could be announced as soon as Tuesday night or early Wednesday morning. The source said the boards were meeting now.

Chase and J.P. Morgan spokesman declined to comment.

Employees leaving J.P. Morgan's headquarters on 60 Wall Street told Reuters they were told to expect an announcement about a merger late Tuesday or on Wednesday morning. Senior executives told one support staffer Chase was the buyer.

The New York Times first reported the story on its Web site. Exact details of the deal were not yet available.

``The rumor is $210 a (J.P. Morgan) share,'' Steven Eisman, an analyst at CIBC World Markets, said.

The possible acquisition would propel Chase toward its long-stated aim of joining the top Wall Street investment banks like Merrill Lynch and Co. Inc. (NYSE:MER - news) and Goldman Sachs Group Inc. (NYSE:GS - news), and also follows a spate of industry mergers.

J.P. Morgan, for its part, has been under pressure to do a deal because it risks being left behind as the world's biggest banks merge with each other to form a shrinking number of global financial players.

J.P. Morgan -- whose founder played a pivotal role in saving the U.S. government from financial panic in the early 1900s -- has not done a major deal since it merged with Guaranty Trust Co. of New York in 1959. It has stood by as a string of European banks quickly snapped up its U.S. rivals.

``We're going to get money out of them either way,'' a tech consultant who works for J.P. Morgan, said of a prospective buyer. ``I'm not worried.''

The combined company would rank 7th (fixes ranking) among firms engaged in the lucrative business of advising U.S. companies on merger deals, ranking behind Wasserstein Perella Group and Goldman, as well CS First Boston and DLJ, based on data from Thomson Financial Securities Data.

Chase's stock fell $1-7/16 to close at $56-1/16 while shares of J.P. Morgan, one of the 30 companies making up the benchmark Dow Jones Industrial average, rose $8-3/4 to close at $177-3/4. Earlier on Tuesday, they hit a record high of $180 on the New York Stock Exchange. In after-hours trading on the Instinet electronic trading system, J.P. Morgan's stock shot up to $184-7/8 while Chase's fell to $52-1/4.

J.P. Morgan, the nation's fifth biggest bank holding company with some $266 billion in assets, has been a long-rumored takeover target for its lucrative money management unit, world famous brand name, long list of corporate customers, and global reach. Its name was also tied to Germany's Deutsche Bank (DBKGn.DE) in the rumor mill.

J.P. Morgan Chief Executive Douglas Warner canceled an appearance at a Merrill Lynch conference on Tuesday, further fueling incessant takeover speculation around the bank. Its chief financial officer, Peter Hancock, also quit last week.

The talks follows a blitz of mergers in the financial industry which many say have put the heat on the remaining Wall Street firms to strike a deal to compete.

Switzerland's UBS AG (UBSZn.S) recently announced plans to buy Wall Street brokerage PaineWebber Group Inc. (NYSE:PWJ - news) and Credit Suisse Group Inc. (CSGZn.S) snapped up Donaldson Lufkin & Jenrette (NYSE:DLJ - news), another rival.

Chase has made no secret of its desire to expand its business of advising companies on mergers and helping with new stock and bond offering deals.

In the last two years, Chase bought West Coast investment bank Hambrecht & Quist, British money manager and investment bank Robert Fleming Holdings and investment banking boutique Beacon Group to build up its mergers and acquisition advisory business and corporate finance arm.



-- cpr (buytexas@swbell.net), September 12, 2000


-- whitetextman (talk@boutcensorshiphere.geesh), September 12, 2000.
Well it looks like my fans are imitating me, and that is fine with me. Imitation is the best form of flattery. I will have to type in black on this one as my fans are not as good as this as me.

-- White Text Man (@ .), September 12, 2000.


cpr,

You do realize that in the entire history of the world, not a single FIAT currency has survived, don't you?

North and Yourdon were wrong about the effects of Y2K, but please reconsider your bashing of the only money on the planet that can't be printed at will by governments: GOLD.

-- J (Y2J@home.comm), September 12, 2000.

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