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Washington Mutual Seeks Release of Funds from Escrow Account.
Business Wire
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December 23, 2002
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COPYRIGHT 2002 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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Business Editors
SEATTLE--(BUSINESS WIRE)--Dec. 23, 2002
Washington Mutual, Inc. (NYSE:WM) announced today that it is notifying The Bank of New York as escrow agent requesting the release of 18 million shares of Washington Mutual common stock and approximately $85 million in cash from an escrow agreement established as part of the company's acquisition of American Savings Bank (ASB) in 1996.
The escrow account was scheduled to terminate on Dec. 20, 2002.
When Washington Mutual acquired American Savings Bank from Keystone Holdings Partners, ...
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