Dealscape's greatest hits and wackiest rumors: Week ending March 28, 2008

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Published March 28, 2008 at 4:55 PM

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All last week, Wall Street was abuzz about the prospects of J.P. Morgan Chase & Co. upping its bid for Bear Stearns Cos. from its paltry $2 a share offer, so when Monday's news landed that the bank dramatically raised its offer to $10 a share, it just lent more grist for the rumor mill to grind much of the week. The media and the masses speculated that a J.P. Morgan may have to raise the bid to as much as $20 a share to fend off possible competing bids. However, the speculation died Thursday afternoon when a Securities and Exchange Commission filing appeared on Edgar revealing that Bear chairman Jimmy Cayne dumped his entire stake in the bank at $10.84 a share the previous Tuesday.

But, just as it seemed the rumor mill would be slowed by the Cayne news, The Wall Street Journal started it up again with a report that Delta Air Lines Inc. and Northwest Airlines Corp. would push forward with merger talks despite lacking support from their pilots unions. The airline speculation had taken a backseat in light of the Bear Stearns collapse, and then the Clear Channel Communications Inc. lawsuit.

After the jump, we unabashedly revel in the best of the week's other rumors, speculation and manias. - Matthew Wurtzel

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