It appears that Bear Stearns (BSC: sentiment, chart, options) has its answer as far as the $2.2-billion buyout bid from J.P. Morgan Chase (JPM: sentiment, chart, options) goes. It took all of 15 minutes for shareholders to vote to approve the buyout. BSC noted that it will wait for the proper regulatory authorities to certify the voting results as official before issuing a statement. According to The Wall Street Journal, the statement could come as early as this afternoon.

The Journal also reported that the meeting was presided over by Chairman James Cayne, who noted: "The company that is taking us over, or is merging with us, is a first-class company ... That which doesn't kill you makes you stronger. By now we must be Hercules." JPM agreed to acquire BSC for $4 billion in stock on March 16 in a deal that was pushed along by the Treasury Department and the Federal Reserve Bank of New York. This offer, valued at $2 per share, was boosted to $10 per share, thanks to negative reaction from the Street.