Washington Mutual Inc. is accelerating efforts to raise more capital or potentially sell itself, reaching out to potential suitors and instructing its investment bankers to step up their efforts to help the struggling thrift escape its mortgage woes.
The push got another boost Wednesday when private-equity firm TPG, which led a $7 billion infusion at WaMu in April, gave the Seattle company an important concession that will make it easier to attract additional cash. Terms of the April deal gave TPG the right to get more shares if WaMu issued fresh equity at a price of less than $8.75 a share.
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