In a major extension of its national banking franchise, Washington
Mutual Inc. (NYSE:WM) today announced a definitive agreement to merge
with Dime Bancorp Inc. (NYSE:DME) in a transaction currently valued at
$5.2 billion in stock and cash.
The transaction, approved by the directors of both companies,
creates a broad-based platform for Washington Mutual's banking
operations as it enters the greater New York metropolitan area, the
nation's largest urban banking market. Photo available shortly.
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