Chase and J.P. Morgan Shareholders Approve Merger; Set December 31st to Merge.Business Editors NEW YORK--(BUSINESS WIRE)--Dec. 22, 2000 The Chase Manhattan Corporation The Chase Manhattan Corporation was a bank holding company formed as parent of the Chase Manhattan Bank. During its time as the parent company, it was led in succession by David Rockefeller, Willard C. Butcher, and Thomas G. Labrecque. and J.P. Morgan & Co. Incorporated today announced that, at separate meetings, their respective shareholders had approved the merger of the two companies. The merger agreement provides that 3.7 shares of common stock of Chase - which will be renamed J.P. Morgan Chase & Co. at the close of the merger -- be exchanged for each share of J.P. Morgan common stock. Each series of preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. of J.P. Morgan will be exchanged for a similar series of preferred stock of J.P. Morgan Chase & Co. Chase and J.P. Morgan also announced that they had received all regulatory approvals necessary to consummate their merger. Accordingly, the merger will close on December 31, 2000. Following the closing, Chase stock will continue to trade on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the new name, J.P. Morgan Chase & Co., and the ticker symbol will change from "CMB Noun 1. CMB - (cosmology) the cooled remnant of the hot big bang that fills the entire universe and can be observed today with an average temperature of about 2. " to "JPM JPM J. P. Morgan Chase & Co. (stock symbol) JPM Juan Pablo Montoya (formula 1 driver) JPM Jabatan Perdana Menteri (Malaysia) JPM Journal of Property Management ." J.P. Morgan stock will no longer trade. Trading under the new stock symbol ("JPM") is expected to commence on January 2, 2001. |
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