Washington Mutual to get $5 billion infusion: report

Beleaguered thrift Washington Mutual Inc. is in negotiations to receive a $5 billion cash infusion from private-equity firm TPG and a consortium of other investors, according to a Wall Street Journal report.

The funding would be structured as both a common and preferred stock offering, the Journal said, citing unnamed sources close to the deal.

In addition, TPG would receive a seat on Seattle-based Washington Mutual's 14-member board.

TPG, one of the largest players in private equity, has holdings in companies as varied as MGM studios, Alltel Corp. and casino operator Harrah's.

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- Posted: 2008-04-07 08:44:31

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