The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Travis_Bickle who wrote (90648)	9/26/2007 4:25:03 PM
From: Les H	Read Replies (1) of 306849

Bear’s shares jumped today as news of a possible sale leaked into the market. After an account of the discussions with Mr. Buffett and others was published in mid-afternoon on the Web site of The New York Times, Bear's stock surged, and shortly before 4 p.m. its shares were up 9 percent for the day. The mechanics of the deal remain unclear, although it is likely that the structure would be in the form of convertible stock, similar to Bank of America’s deal with Countrywide. One thing that seems clear is that Mr. Cayne is no longer insisting on a 40 percent mark up. People briefed on the talks say that investors are seeking to buy their stake at market price while Mr. Cayne is holding out for a premium that is closer to 20 percent. nytimes.com

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