Posted on 06/30/2009 9:19:40 PM PDT by seton89
When the deal was struck in September, J.P. Morgan Chase’s purchase of most of the collapsed Washington Mutual Bank looked like a master stroke, a $1.88 billion purchase price for operations expected to boost annual earnings more than $2 billion. In the first quarter alone, revenue jumped 48%, in part reflecting the impact of the WaMu purchase.
But at least part of the deal is getting a second look, as Delaware Judge Mary Walrath on Friday granted a motion from the thrift’s parent, Washington Mutual Inc., to examine J.P. Morgan’s books.
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(Excerpt) Read more at blogs.wsj.com ...
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