Why is Bear selling for more than the offer price?

Several people have asked why Bear is selling at so much over the JP Morgan offer price. I guess this is the best explanation I have seen.Short version: Creditors want to assure the deal is approved, so they are buying shares in order to vote them.Hedging the Bear Stearns Deal - Mergers, Acquisitions, Venture Capital, Hedge Funds -- DealBook - New York Times: "The creditor buys Bear shares and