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"CHICAGO -- J.P. Morgan Chase & Co. Inc. has agreed to buy Bank One Corp. for about $60 billion, CNBC reported Wednesday.

The Wall Street Journal's online edition broke the story at 4 p.m. EST. Citing a person familiar with the matter, the Journal reported that an announcement about the purchase is expected later Wednesday. The New York Times online edition reported that J.P. Morgan is in "advanced talks" to buy Bank One.

J.P. Morgan chief executive Bill Harrison told CNBC he is excited about the merger. Bank One spokesman Tom Kelly declined to comment. "

By my count, this would be the third major merger in the last seven years - First Chicago + NBD = FCNBD + Bank One = Bank One +JP Morgan.

Sunrunnner4 - ex-auditor.
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