WaMu gets capital offer from U.K. fund: report
NEW YORK (Reuters) - U.K. hedge fund Toscafund Asset Management LLP has approached Washington Mutual Inc (WM.N), offering to participate in any consortium looking to recapitalize the bank, The Wall Street Journal reported on Wednesday.
Citing a person familiar with the matter, the Journal said on its Website that the London-based firm approached WaMu's board this week with an offer to invest its own money.
Washington Mutual shares rose more than 12 percent on Tuesday amid speculation of a possible capital infusion by Goldman Sachs Group Inc (GS.N) or Warren Buffett.
The shares closed down about 2 percent at $11.64 on the New York Stock Exchange on Wednesday.
Last week, shares of WaMu, the largest U.S. savings and loan which has been battered by mortgage losses, fell after a report in The Wall Street Journal said it has approached private equity firms and sovereign wealth funds about possible cash infusions.
Neither WaMu nor Toscafund were immediately available.
(Reporting by Martinne Geller)
