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Big task: digesting a Bear

Heard on the street

The legal fight over JP Morgan Chase's planned $1.18bn (€749m) purchase of Bear Stearns pushed into high gear as two Michigan pension funds filed court papers seeking a temporary restraining order against the transaction.

And on the day after JP Morgan moved to seal the deal by quintupling its bid, senior bank executives resumed diving into the nitty-gritty of combining the two firms.

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