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.