J.P. Morgan Chase to acquire BankOne

January 14, 2004 9:34 PM Comments [1] Posted in eFinance

J.P. Morgan to buy Bank One
The deal could be worth $60 billion, the Wall Street Journal reports.

NEW YORK (CNN/Money) - J.P. Morgan Chase & Co. has agreed to acquire Bank One Corp. for an estimated $60 billion, according to a published report Wednesday.

The deal would combine two of the nation's largest financial institutions, the Wall Street Journal online reported, citing a person familiar with the matter. J.P. Morgan is the No. 2 bank, and Bank One the No. 6. bank.

Shares of Bank One (ONE: Research, Estimates) rose 14 percent in after-hours trading, while J.P. Morgan (JPM: Research, Estimates) shares slipped 3 percent.

Comments [1]
« Slashdot Traffic, Site Statistics and da... | Home | The Bat Belt Effect - Geeks, Dorks and D... »
Wednesday, January 14, 2004 10:57:12 PM UTC
Talk about keeping up with the Joneses!

The second I saw that JPMC was about to become #3 because of the BofA/Fleet merger, I just knew they would do something to retain their spot. :)
Rocco
Comments are closed.
Disclaimer: The opinions expressed herein are my own personal opinions and do not represent my employer’s view in any way.