CHASE MANHATTAN (net profit of USD 5.375 billion in 1999 with a total balance sheet of 406.1 billion), the third largest bank in the United States, intends to acquire the American business bank J.P. MORGAN (net profit of USD 2.020 billion in 1999 with a total balance sheet of 260.9 billion) through a public exchange offering valued at USD 32.9 billion. The J.P. MORGAN shareholders will receive for each of their shares 3.7 shares in CHASE MANHATTAN, an exchange of share that values each J.P. MORGAN share at around USD 207. The entity, which will bear the name J.P. MORGAN CHASE & CO will have around 660 billion in assets. This operation forms one of the largest mergers to this day in the American banking sector.