Monday, March 24, 2008

So now Bear is at least almost worth its HQ building...

Dimon upped the bid on Bear Stearns to a billion dollars -- still a little less than the estimated value of its headquarters but a lot more than $250MM. Will it go higher? Maybe. The market thinks so right now since BSC is trading above $12.00. It probably won't go to book value but almost anything's better than $2 a share.