Buyout Not the Best Option for WaMu Shareholders

In this turmoil-filled market, takeover rumors are everywhere. But in the financial sector, takeovers are happening now. In the next few weeks, we will likely see consolidation on Wall Street.

With housing bottoming out, some banks look really cheap. The most imminent takeover is likely to be WaMu (WM). It has been on the agenda for some time now. Back in April WaMu refused an offer from JPMorgan (JPM). Recently the New York Post reported WaMu is on the top of the list that JPMorgan or another firm, such as Goldman Sachs (GS), is looking to acquire. Based on their sources, JPMorgan is talking to WaMu and other regional banks.