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Lewis Says JPMorgan's Offer for Bear Stearns is 'Derisory' - CNBC
Lewis Says JPMorgan's Offer for Bear Stearns is 'Derisory'CNBC, NJ - 8 hours ago"I think it's a derisory offer, and I don't think they will get shareholder approval," Lewis said, in an interview with CNBC. Lewis also discounted rumors …Trading The Volatility CNBCall 2 news articles

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Derisory offer
?I think it?sa derisory offer, and I don?t think they will get shareholder approval,? Lewis said, in an interview with CNBC. Bear Stearns? second largest shareholder, Joe Lewis, said Monday JPMorgan?s $2 a share offer for the investment …

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Bear Stearns - ‘I think it’s a derisory offer’

Bear Stearns’ second largest shareholder, Joe Lewis, said Monday JPMorgan’s $2 a share offer for the investment bank is “derisory.”

“I think it’s a derisory offer, and I don’t think they will get shareholder approval,” Lewis said, in an interview with CNBC.

Lewis also discounted rumors that his position in Bear Stearns was leveraged.

The British-born billionaire, who amassed his fortune as a currency trader, is the biggest individual loser in Bear Stearns’ debacle. It is estimated that he has lost nearly $1 billion from his decision to pile into Bear Stearns stock in recent months.

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Description: Lewis Says JPMorgan's Offer for Bear Stearns is 'Derisory' - CNBC Lewis Says JPMorgan's Offer for Bear Stearns is 'Derisory' CNBC, NJ - 8 hours ago I think it's a derisory offer, and I don't think