Banking, finance, and taxes
Big Activist Stake Send WaMu Soaring (WM)
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We are seeing a substantial move in shares of Washington Mutual, Inc. (NYSE: WM). British Activist fund Toscafund Asset Management LLP has disclosed in an SEC Filing that it has accumulated a 6% stake with a position of 105,500,028 shares.
This is being listed as a passive stake in the company. At least that is the case for now.
We’ve seen over 100 million shares trade and shares are up 19% at $5.66 today. Its 52-week trading range is $3.03 to $39.25.
Jon C. Ogg
July 31, 2008
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