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J.P. Morgan Chase to acquire BankOne

Posted 2004-01-14 01:34 PM 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.



Wednesday, January 14, 2004 2:57:12 PM (Pacific Standard Time, UTC-08:00)
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
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