Bear Stearns' second largest shareholder, Joe Lewis, said Monday JPMorgan's $2 a share offer for the investment bank is "derisory."
"I think it's a derisory offer, and I don't think they will get shareholder approval," Lewis said, in an interview with CNBC.
Lewis also discounted rumors that his position in Bear Stearns was leveraged.
The British-born billionaire, who amassed his fortune as a currency trader, is the biggest individual loser in Bear Stearns' debacle. It is estimated that he has lost nearly $1 billion from his decision to pile into Bear Stearns stock in recent months.
CNBC
about the word derisory
@nibelungensohn he lost alot more after that
ajgolfer1 4 months ago
derisory haha...ungrateful mong..should have let it goto zero.
jprithvi 3 years ago
Who cares .... as usual another gambler
mep10 3 years ago
J.P. Morgan was one of the principal companies involved in a coup attempt on America in the 1930's. General Smedley butler exposed their plan to congress in 1934, along with other companies, and namely Prescott Bush..George Bush's grandfather. This is congressional record and fact. They were attempting to use Smedley Butler to lead 500,000 men, to overthrow the American govt. and Franklin Roosevelt. Do you not know this? Why is this corporation, this entity, not under strict surveillance?
zedek3147 3 years ago
that is a massive loss
kingnek 4 years ago
His net worth now:
5 billion - 1 billion = 4 billion
Other than having have to bear a few inuendoes from his friends of being a big wall-street loser I don't see any reason for him to break a sweat.
nibelungensohn 4 years ago 2
Has Lewis jumped from a 40th story window yet? LOL LOL LOL LOL
beverins 4 years ago