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.
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