Thursday, September 25, 2008

Washington Mutual seeking private equity takeover - WSJ (WM)

From MarketWatch:
Troubled mortgage lender Washington Mutual has approached several private-equity firms about a potential takeover, according to a published report Thursday. Carlyle Group LLC, and Blackstone Group LP are among the firms considering a deal, the Wall Street Journal reported, citing unnamed sources....MORE
From the New York Times:
Washington Mutual May Be on Block

Federal regulators are moving quickly to broker a deal for Washington Mutual as the savings-and-loan comes under mounting financial pressure, according to people briefed on the talks.

Even as Washington moves to bail out financial institutions, the fortunes of Washington Mutual have spiraled downward. On Wednesday, Standard & Poor’s, a major credit rating agency, downgraded Washington Mutual’s debt further into junk territory, citing the increased chance that the company might have to be split up to facilitate a sale....MORE