Too_Many_Tools wrote:

In an attempt to speed majority shareholder approval, Bears board was
trying to authorize the sale of 39.5 percent of the firm to JPMorgan,
the Times said. State law in Delaware, where the companies are
incorporated, allows a company to sell up to 40 percent without
shareholder approval.

I was wondering how a sale like this could happen without shareholder
approval. So the deed isn't done at the moment.

Your header shows your hatred of all things Republican. What is your point?
Sounds to me like the Bear Stearns board is trying to get as much out of the
deal for stockholders as possible (duty to stock holders) while getting the
deal done. I guess going into bankruptcy is still an option. Pick your
poison. Btw, I haven't heard the Democrat leadership screaming about the
bail out. What does that tell you?

Wes
--
"Additionally as a security officer, I carry a gun to protect
government officials but my life isn't worth protecting at home
in their eyes." Dick Anthony Heller