Analyst Reactions to Bear Stearns

Following are some comments from analysts on the deal:

"One reaction is shock that a company that reaffirmed its book value at around $84 on Wednesday can be worth $2 per share four days later on Sunday."

- Deutsche Bank analyst Mike Mayo

"While we believe Bear Stearns' case is unique, what will not be unique, in our view, is a resulting major negative revaluation of financials."

- Oppenheimer analyst Meredith Whitney

"Although Bear Stearns shareholders are likely to be disappointed at the price it received, we believe their options were limited."

- Goldman Sachs analyst William Tanona

"Even with an estimated $6 billion of transaction costs, the deal economics look very compelling and from a strategic perspective JPMorgan is getting several business lines from Bear that are very complementary to its Investment Bank."

- Citi Investment Research analyst Keith Horowitz