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The Fortune 500 world of 2007 shrinks further- JPMorgan Chase buys Bear Stearns at fire sale prices

I haven’t gotten back to finishing up my Fortune 500 board of directors social network mapping project, but the 2007 Fortune 500 world has once again gotten a bit smaller due to the merger of two more Fortune 500 companies- in this case JPMorgan Chase buys up Bear Stearns - at fire sale prices. Not a pretty picture. I’ve run across a few other mergers between two companies which were on last year’s Fortune 500 list. One was Mellon Financial Corp. and Bank of NewYork Co; I can’t recall what the other one was at the moment.

Probably, this type of thing happens some every year, I just haven’t tracked it in prior years. Anyway, if I don’t get back to the project soon, I may get back to it once the 2008 company listings come out, who knows?

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This entry was posted on March 18, 2008 at 7:35 am and is filed under Bank of New York, Bear Stearns, Federal Reserve, Fortune 500, JPMorgan Chase, Mellon Financial, New York, high finance, mergers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “The Fortune 500 world of 2007 shrinks further- JPMorgan Chase buys Bear Stearns at fire sale prices”

  1. The Fortune 500 world looks to shrink once again with NRG Energy bidding on Calpine « We Can Change The World Says:
    May 24, 2008 at 2:18 am

    [...] back, the recent Hewlett Packard bid for EDS was another case of the shrinking playing field, and the earlier Bear Sterns buyout was a third (which didn’t show up on the 2008 list). As you’ll no doubt be aware, [...]

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