Bear Stearns Weekend Talks Reveal 2 Key Contenders

[CNBC]

A tough time for Bear Stearns:

"...
If there's no deal Bear Stearns will have to file for bankruptcy, executives said."

CNBC Story:

Bear Stearns Weekend Talks Reveal 2 Key Contenders

By Charlie Gasparino, CNBC On-Air Editor | 15 Mar 2008 | 08:42 PM ET

Department heads at Bear Stearns met with officials at J.C. Flowers and JPMorgan Chase Saturday afternoon to give an overview of their business divisions, including headcount and profit and loss positions, CNBC has learned.

The discussions indicate that potential bidders for Bear have been narrowed to those two firms, although other last minute contenders could still weigh in, according to one source aware of the talks.

While Bear would certainly like more bidders, time has become a major issue for the investment bank.
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http://www.cnbc.com/id/23651058/site/14081545