J.P. Morgan Chase Unveils Revised Bear Stearns Deal Terms

J.P. Morgan Chase announced an amended merger agreement for Bear Stearns, boosting the value of the deal to $10 a share from the initial valuation of $2 a share. Also, the Federal Reserve Bank of New York's $30 billion special financing was amended so that J.P. Morgan Chase will bear the first $1 billion of any losses associated with the Bear Stearns assets being financed and the Fed will fund the remaining $29 billion. The revised deal, which was negotiated over the weekend, is aimed at mollifying Bear's investors who have been furious with the $2-a-share agreement struck last weekend as the storied investment bank was on the brink of collapse.