JP Morgan and Bear to have a new price???

From the NY Times:

"The sweetened offer is intended to win over stockholders who vowed to fight the original fire-sale deal, struck only a week ago at the behest of the Federal Reserve and Treasury Department.Under the terms being discussed, JPMorgan would pay $10 a share in stock for Bear, up from the initial offer of $2...."

From CNN/Money:

" Under the revised terms, JPMorgan will buy 95 million new shares of Bear, giving it 39.5% of the troubled broker and a big leg up in getting shareholder approval to approve the takeover. Further, Bear Stearns' board members - including Chairman James Cayne, who was said to be shopping for a better deal - agreed to support the deal. The board controls about 5%, giving the bank almost 45% approval.

Why was the deal being redone? In part because os so called "mistakes". For more you will want to read the section by the "Deal Professor" that examines some of the errors that came about in the initial deal.