JP Morgan Chase to Buy Bank One.

Financial News, January, 2004

JP Morgan Chase plans to take over Bank One for roughly $58bn ([euro]45bn) in stock, forming the second largest bank in the US. The newly created colossus would have loans and other assets of $1.1 trillion, trailing only Citigroup. JP Morgan, the acquirer, described the deal as a merger of equals.The combined bank will retain the JP Morgan name and be headquartered in New York. Its consumer-services businesses will remain based in Chicago, where Bank One is headquartered. The deal is subject to regulatory approval. A competing bid for Bank One -- or JP Morgan, for that matter -- is possible. But it's considered highly unlikely given the size of the planned deal, according to those familiar with it.

The merger agreement creates a succession issue for JP Morgan....

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