The JP Morgan Corporation is one of the most powerful financial firms in theUSand the European Markets. The company put forward a deal to acquire Chase Manhattan for $36 billion in stock. The success full merger of the two firms allowed the group to become a large powerhouse offering an array of services which complemented the products of the group.
The stock price of the Citicorp in January 2000 opened at $74.75 and closed at $80.69. The highest stock price reported in the month was at $81.50 with the lowest being $68.25 and the volume being traded at $8,541,100. The adjusted closing stock price for splits and dividends for the month stood at $39.45. In September 2000, the month of the merger the opening price was at $56.69, the closing price was at $46.19 with the highest price $58.38 and the lowest price $44.56. The volume traded was $12,126,000, with the adjusted closing stock price as $34.29. Two years after the merger in September 2002, the opening price was at $25.65, the closing price was at $18.99 with the volume being traded $16,434,700. The highest and the lowest prices were at $25.75 & $17.86 respectively with the adjusted closing price at $15.11.
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