Tuesday, September 16, 2008

Washington Mutual stock rises; merger talk disputed (WM)

From Reuters:
Shares of Washington Mutual Inc (WM.N: Quote, Profile, Research, Stock Buzz) were 14 percent higher on Tuesday after a report that JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) was in talks to acquire the troubled Seattle-based thrift.

Britain's Daily Mail newspaper, citing no sources, reported that JPMorgan was expected to make a bid for Washington Mutual. But two people familiar with the matter told Reuters that JPMorgan was not in active talks at the moment to buy the largest U.S. thrift....MORE

The stock was recently trading at $2.22 up 22 cents.