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individend
@individend
1Yr·

$FRC Does anyone know what will happen to the shares now?

The bank was closed today and trading was suspended.

As far as I have read, the bank was taken over by $JPM (+0.94%) taken over.

This should now be a bankruptcy, and not a takeover, right ?

4 Comments
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Staatsmann@Staatsmann
1Yr
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DividendenSchwabe@DividendenSchwabe
1Yr
Depends on the $JPM takes over. At the obgligator 1€ the shares are worthless
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Dividende > Zinsen@GoDividend
1Yr
Just read this: Here are the details of the deal that we know right now: JPM is assuming all deposits, so there are no losses to uninsured depositors The largest U.S. banks are also assuming $173 billion in loans and $30 billion in securities.
There is a "loss sharing" agreement for some of the assets (mitigating potential losses for JPM) JPM is not taking over any corporate debt or FRB preferred stock FRB branches will open as usual today, Monday, under the control of JPM's retail business Accordingly, @MeepMeep doesn't explain to me why the price has gone up. Think the shares after being suspended from trading will eventually just become worthless??🤔🧐
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