Citigroup Inc. may be considering a bid for Washington Mutual Inc., according to a report by The wWall Street Journal. Yet, the news comes one day after The Wall Street Journal put out a report that Citigroup was unlikely to proceed with a possible deal for WaMu. So what's really going on here?From the Puget Sound Business Journal:
Friday's report, which cites unnamed sources, also claims that other bidders for the troubled bank include Banco Santander SA , Wells Fargo & Co. and J.P. Morgan Chase & Co. Earlier in the week, there were reports that J.P. Morgan could be the lead bidder for WaMu, but now The Wall Street Journal suggests that J.P. Morgan is now "taking its time," since WaMu turned down an $8 per share offer from J.P. Morgan in December.
There were several reports Thursday that the bidders were only interested in certain assets of WaMu, particularly its 2,300 branches, which are located mostly on the West Coast, and $143 billion in retail deposits. Reuters and The Wall Street Journal states that Goldman, Sachs & Co. and Morgan Stanley are running the auction, and that potential buyers for the bank's pieces included Citigroup, HSBC Holdings plc, J.P. Morgan, Bank of America Corp. and Wells Fargo & Co....MORE
Asset sale at WaMu?
Washington Mutual’s headquarters building could be worth nearly $400 million to the struggling thrift or a potential buyer.
Washington Mutual Inc. owns its portion of the 42-story high-rise tower it built in partnership with the Seattle Art Museum, or approximately 944,000 square feet of space, according to its annual report....MORE