JP Morgan's top lieutenants in Europe are meeting with their counterparties at Bear Stearns throughout today in an effort to assess the various investment banking and related businesses of the stricken US brokerage after striking an eleventh hour deal to buy it yesterday for a bargain price of $236m (â¬152m).
According to a source within Bear Stearns, talks are already underway this morning between JP Morgan's London-based senior executive team and the various heads of trading and other top-level management at the US brokerage following news of the acquisition last night. The talks are expected to go on throughout the week.
