Washington Mutual Preps Itself for Sale
WaMu fired its longtime CEO Kerry Killinger last week, replacing him with Alan Fishman, who was seen as being brought in to sell the struggling thrift.
"WaMu's new leadership is probably much more receptive to a take-out offer from JPMorgan CEO Jamie Dimon," CreditSights analysts wrote in a note that explores a possible deal between JPMorgan and WaMu.
"We sense that fast moving market events of the past week are in a sense taking over," the CreditSights analysts write. "Those banks and brokers which are subjected to 'bear raids' can quickly see their range of strategic options narrow and may reconsider merger offers from stronger players, even if a similar deal was rejected only a few months ago."
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