INSTANT VIEW: JPMorgan raises Bear bid to $10/shr

NEW YORK (Reuters) - JPMorgan Chase & Co. said on Monday it had raised its offer for Bear Stearns Co. Inc. to about $10 per share.

The two companies said JPMorgan will buy 95 million newly issued shares of Bear Stearns common stock, or 39.5 percent of Bear's common stock. They said the deal should be completed on or about April 8.

The Federal Reserve Bank of New York's $30 billion special financing has also been amended.

MARKET COMMENTS:

JIM HUGUET, CEO, GREAT COMPANIES INC, TAMPA, FLORIDA

"I don't know how you could put a deal like that together in two or three days and have all your t's crossed and your i's dotted. That's a very complex thing to put together.

"I would imagine that they are starting to step back and look at it and say, 'OK, what's really here?'

"People are saying, 'Gee, this is going to make the folks that work there happy.' I don't know how $10 is going to make you five times happier than $2 when it was worth a $100 six months ago."

"So are people going to be dancing in the halls? I doubt it.

"But if they don't take something then they run the risk of this thing unwinding. Although if they wait long enough, maybe they get it turned around and get it repositioned. It's really like playing poker. You don't want to show the other person what your cards are and you want to try and create a bluff and I think that's what you are into."

JOE KINAHAN, CHIEF DERIVATIVES STRATEGIST AT ONLINE BROKERAGE

THINKORSWIM INC IN CHICAGO

"As long as the Fed has signed off on this revised deal, this is great for everyone.

"It will be interesting to see how this will impact the shares of Merrill Lynch, Lehman Brothers and Goldman Sachs as well as the rumors surrounding these companies regarding their financial health. This may be the bottom for the financial sector."