U.K. investor Lewis has 7% Bear Stearns stake

Bear Stearns said Monday that investor Joseph Lewis has acquired a 6.97% stake in the Wall Street firm, or just over 8 million shares, in the last several weeks.

The aggregate purchase price for the shares was approximately $860 million and was paid out of working capital by several firms controlled by Lewis.
In an SEC filing, the company said Lewis, a U.K. citizen and Bahamas resident, acquired the stake as an investment, and may buy more in the future. Bear shares rose 3% to $108.30.

As of Sept. 10, according to the filing, Lewis and entities he controls owned 8.09 million shares, representing 6.97% of Bear's 116.1 million outstanding shares.

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- Posted: 2007-09-10 09:51:56

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