JP loves the Bear

Perhaps it will not be entirely unrequited at $10 a share. The NYT has the scoop, the FT has additional details, and some amusing speculation can be found on Naked Capitalism.

Update. It's official (or at least on Bloomberg). JP ups the offer to roughly $10/share, and buys 39.5% of the firm in newly-issued stock (40% or more requires a shareholder vote). That's done then. Who caught the bride's bouquet?