Banks, Treasury disagree on pricing of warrants

07/10/2009 | Wall Street Journal, The

The Treasury argued that valuation proposals for warrants it received in exchange for state aid for banks are too low, while the banks said the Treasury is demanding too much for the warrants. JPMorgan Chase CEO Jamie Dimon decided to waive the company's rights to buy back the warrants and instead will allow them to be auctioned off through the public market. Bankers said the move will set an actual market price for the warrants.

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