JP Morgan eyes Bear Energy prize
JP Morgan's planned acquisition of Bear Stearns looks set to bring it closer to rivalling the biggest energy investment banks, Goldman Sachs and Morgan Stanley, writes David Watkins
Following JP Morgan's planned $10 per share acquisition of Bear Stearns and its subsequent move to secure the trading obligations of Bear's Houston-based subsidiary Bear Energy, the investment bank looks set to bolster the ambitious commodity expansion programme it launched in 2007.
Bear Energy is a physical gas and power business employing around 220 professionals, created in a joint venture between Calpine and Bear Stearns in 2005. The company serves as an intermediary, providing services to
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