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OK, not that this was ever likely, but here's one deal that's not happening: Credit Suisse Group is not interested in buying Bear, Stearns & Co. The big Swiss bank's CEO Brady Dougan reportedly told Credit Suisse bankers at last week's World Economic Forum in Davos, Switzerland, that a deal to acquire Bear Stearns is a "nonstarter," according to TheStreet.com. However, should this really surprise anyone?
Despite the ouster of longtime Bear CEO Jimmy Cayne, a sale of the firm shouldn't automatically be assumed -- though that hasn't stopped speculation in the press. After all, Cayne may no longer hold the title of CEO, but unlike Chuck Prince and Stan O'Neal -- two ousted bankers felled by the subprime crisis -- he remains chairman of Bear. In other words, he's still a presence at 383 Madison Ave., and he's stated on several occasions that Bear is not for sale -- unless, of course, the buyer is willing to pay more than 4 times book value. And why would anyone do that under current circumstances? - Matthew Wurtzel See story from TheStreet.com Categories Deal Video
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