Bear Stearns held preliminary talks with Fortress Investments, a listed alternative asset management firm, regarding a possible combination in the weeks before Jimmy Cayne stepped down as chief executive of the investment bank, people familiar with the matter said.
While the talks ultimately were called off, the discussions are a sign of how much pressure Bear Stearns is under to seek a partner following heavy losses on its mortgage-related holdings and declining revenue from its fixed-income business.




