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Market Update

Morgan Rumors Were More Than Talk

Fund manager thinks venerable bank had little choice but to sell.

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Merger rumors and takeover talk have swirled around J.P. Morgan (JPM) for weeks, including speculation that the venerable U.S. bank was about to sell out to Germany's Deutsche Bank (DTBKY).

But the latest reports, which have Morgan heading to the altar with financial conglomerate Chase Manhattan (CMB), seem the most plausible scenario so far to a mutual-fund manager who has more than 5% of his assets invested in Morgan.

Dan Culloton does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.