NEW YORK (AP) - Stocks are trading higher with investors more upbeat over a
report that Bear Stearns Cos. could fetch more money than the amount set in a
buyout deal a week ago.
Shares of Bear Stearns are moving higher on a New York Times report that
JPMorgan Chase & Co. is in talks to boost its offer to $10 per share from $2.
The discussions are aimed at soothing Bear Stearns shareholders who are upset
over JPMorgan's earlier offer. That deal was made at the behest of the Federal
Reserve when Bear Stearns was near collapse.
In the first minutes of trading, the Dow Jones industrial average is up
about 75 at the 12,436 level.
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