a recent on going rumor resurfaced yesterday that JPM was interested in purchasing STI. apparently, JPM made an unsolicit offer to purchase WMU but WMU management said no thanks! so just maybe JPM will now seek to buy STI.
Let's see, who started this ridiculous rumor?I bet it was YOU.LOL
Actually, Marketwatch reported "the rumor". http://www.marketwatch.com/News/Story/wamu-spurned-jp-morgan-bid/story.aspx?guid=%7B7EC32E10%2D1195%2D4897%2DBCC4%2D09800A1067BF%7DAnd the song is "Here you come again"dp
"Here we go again..." (sung in your best Dolly Parton impersonation).
(WM) offer was only $8 from (JPM), so what could they possible offer (STI)? I don't foresee a reasonable offer worth taking. Better off keeping at these prices, just my opinion.
Except NOW the speculation is about "how much" the discount will be.
At 40% under current stock price...that was the wamu offer. You guys might well get taken out for 30.