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Key Mergers of JPMorgan Chase

In: Wealth Creation in the World’s Largest Mergers and Acquisitions

Author

Listed:
  • B. Rajesh Kumar

    (Institute of Management Technology)

Abstract

In the year 2000, the Chase Manhattan Corp. which is the third largest banking company in the United States acquired JPMorgan and Company in an all-stock deal valued at around $30.9 billion. The acquisition of JPMorgan catapulted Chase into the big leagues of investment banking. Chase exchanged 3.7 shares of its stock for each of Morgan’s share. On the basis of Chase’s closing stock price of $52.50 on September 13, 2000, the proposed price was about $30.9 billion. On January 14, 2004, JPMorgan Chase & Co entered into agreement to buy Bank One for $58 billion. The merger created one of the largest and most globally diversified financial services companies in the world. JPMorgan was able to get a strong retail and credit card presence through the merger with Bank One. The deal involved exchange of 1.32 shares of JPMorgan shares for each Bank One share. The cumulative return for JPMorgan Chase for 249 days surrounding the Bank One merger window period −5 to +244 days was approximately 7.8%.

Suggested Citation

  • B. Rajesh Kumar, 2019. "Key Mergers of JPMorgan Chase," Management for Professionals, in: Wealth Creation in the World’s Largest Mergers and Acquisitions, chapter 17, pages 167-174, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-030-02363-8_17
    DOI: 10.1007/978-3-030-02363-8_17
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