Bear Sterns B.S.M.B. Division?

Question

How will B.S.M.B. and its holdings be effected by the Bear Sterns buyout by J.P.Morgan?

Answer 1

BSMB will become an independent company with the Bear Stearns subsidiary of JP Morgan Chase holding a passive interest. The holdings will not be affected at all. There are plans to change the name from BSMB, but the new name has not yet been announced. BSMB has moved to their own office space in NYC (277 Park Ave.). Everything else remains the same, including retention of Bear Growth Capital Partners as an affiliate.