Not so sure about that... does JOMC have 30-52 billion is cash on hand? If not it could only be a stock swap... maybe partial cash or divy's for the preferreds. I would not rule out some sort of stock swap under the circumstances. IMHO.
I am cool either way. I think a stock swap would be worth more to us in the long run. If you keep JPMC shares for a year... qualify for long term capital gains and then sell at higher levels a year from now you could possibly double your take home through appreciation and tax advantages!