Great Western Financial Corp. scheduled a special meeting for shareholders to vote on selling the thrift to Washington Mutual Inc. on June 13, the same date as its annual meeting.
Great Western, based in Chatsworth, Calif., agreed on March 6 to be acquired by Seattle-based Washington Mutual in a stock transaction valued at $6.63 billion, based on Monday's closing price. The combination would create the largest thrift in the United States. Great Western is currently the second largest thrift in the country.The agreement followed a Feb. 17 hostile bid by Great Western's Los Angeles-area rival, H.F. Ahmanson & Co., which proposed a $6.72 billion stock swap. Great Western has been fighting the hostile bid.
Ahmanson is fighting, through a shareholder referendum and in court, to force Great Western to schedule its annual meeting before shareholders vote on the Washington Mutual agreement.