JPMorgan acquires WaMu

JPMorgan has stepped in to acquire Washington Mutual for $1.9 billion, after the Seattle-based bank was closed by US regulators in late September.

The deal includes the assets and certain liabilities of Washington Mutual's banking operations, creating the largest depository institution in the US with over $900 billion of customer deposits. Excluded from the deal are the senior unsecured debt, subordinated debt and preferred stock of Washington Mutual's banks.

The $1.9 billion fee was paid to the

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