Richard Heller, a partner with the law firm Thompson Hine LLP, has been appointed to serve on the Hedge Fund Association 2008 board of directors.
The Hedge Fund Association is an international not-for-profit association of hedge fund managers, service providers and investors formed to unite the hedge fund industry and increase awareness of the advantages and opportunities in hedge funds.
Heller was selected by industry peers to represent hedge fund service providers. In this role, he will contribute his time and experience to help connect, promote and grow the association.
As a member of Thompson Hine's Corporate Transactions & Securities practice group, Heller focuses his practice on securities matters. His experience includes formation of private offerings including hedge fund offering documents and exhibits and related securities filings and defending registered representatives before the FINRA.
Heller has served three times on the SEC's Business Forum on Small Capital Formation, which has published recommendations to the White House.
Established in 1911, Thompson Hine is a business law firm dedicated to providing superior client service. For the last several years, the firm has been named one of the Best Corporate Law Firms in America (in an annual survey of corporate directors conducted by Corporate Board Member magazine). With more than 400 lawyers, Thompson Hine serves premier businesses worldwide. The firm has offices in Atlanta, Brussels, Cincinnati, Cleveland, Columbus, Dayton, New York and Washington, D.C.
17 Mar 2008
The $240 Million Acquisition Of Bear Stearns
JPMorgan Chase & Co. announced the acquisition of Bear Stearns Companies Inc. The Boards of Directors of both companies have unanimously approved the transaction.
Based on the closing price of March 15, 2008, the transaction would have a value of approximately $2 per share, a total of $240 million.
"JPMorgan Chase's management team has a strong track record of effective merger integration," said Heidi Miller, CEO of JPMorgan Treasury & Securities Services business. "We will work closely in the coming weeks with Bear Stearns' clients and management to execute the transaction quickly."
In addition to the financing the Federal Reserve ordinarily provides through its Discount Window, the Fed has agreed to fund up to $30 billion of Bear Stearns' less liquid assets.
"JPMorgan Chase stands behind Bear Stearns," said Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase. "Bear Stearns' clients and counterparties should feel secure that JPMorgan is guaranteeing Bear Stearns' counterparty risk. We welcome their clients, counterparties and employees to our firm, and we are glad to be their partner."
Dimon added, "This transaction will provide good long-term value for JPMorgan Chase shareholders. This acquisition meets our key criteria: we are taking reasonable risk, we have built in an appropriate margin for error, it strengthens our business, and we have a clear ability to execute."
"The past week has been an incredibly difficult time for Bear Stearns. This transaction represents the best outcome for all of our constituencies based upon the current circumstances," said Alan Schwartz, President and Chief Executive officer of Bear Stearns.
JPMorgan Chase & Co. is a leading global financial services firm with assets of $1.6 trillion and operations in more than 60 countries.
The Bear Stearns Companies Inc. serves governments, corporations, institutions and individuals worldwide. The company's core business lines include institutional equities, fixed income, investment banking, global clearing services, asset management, and private client services.
Based on the closing price of March 15, 2008, the transaction would have a value of approximately $2 per share, a total of $240 million.
"JPMorgan Chase's management team has a strong track record of effective merger integration," said Heidi Miller, CEO of JPMorgan Treasury & Securities Services business. "We will work closely in the coming weeks with Bear Stearns' clients and management to execute the transaction quickly."
In addition to the financing the Federal Reserve ordinarily provides through its Discount Window, the Fed has agreed to fund up to $30 billion of Bear Stearns' less liquid assets.
"JPMorgan Chase stands behind Bear Stearns," said Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase. "Bear Stearns' clients and counterparties should feel secure that JPMorgan is guaranteeing Bear Stearns' counterparty risk. We welcome their clients, counterparties and employees to our firm, and we are glad to be their partner."
Dimon added, "This transaction will provide good long-term value for JPMorgan Chase shareholders. This acquisition meets our key criteria: we are taking reasonable risk, we have built in an appropriate margin for error, it strengthens our business, and we have a clear ability to execute."
"The past week has been an incredibly difficult time for Bear Stearns. This transaction represents the best outcome for all of our constituencies based upon the current circumstances," said Alan Schwartz, President and Chief Executive officer of Bear Stearns.
JPMorgan Chase & Co. is a leading global financial services firm with assets of $1.6 trillion and operations in more than 60 countries.
The Bear Stearns Companies Inc. serves governments, corporations, institutions and individuals worldwide. The company's core business lines include institutional equities, fixed income, investment banking, global clearing services, asset management, and private client services.
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