JP Morgan's acquisition of Bear Stearns for $10 a share in May 2008 produced an added bonus for the bank in the shape of the energy trading business Bear Energy.
The merger of JP Morgan and Bear Stearns was concluded on May 30, 2008, by which time the integration of Bear Energy and JP Morgan's commodities business was well under way. Formed in 2006, Bear Energy was an intermediary for natural gas producers, power generation companies, private equity and hedge funds, and other merchants. In Novem
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