Lenders to Weigh Buyout Offers
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Shareholders of two Orange County-based lenders will get the chance in September to vote on separate buyout offers for their respective companies.
Long Beach Financial Corp., the Orange-based mortgage lender, will hold a shareholder meeting Sept. 13 to approve an offer by Seattle-based Washington Mutual, the nation’s biggest thrift, to buy the company for $15.50 a share.
Meanwhile, shareholders at Western Bancorp, a Newport Beach bank holding company, will cast their votes Sept. 29 on a $900-million offer from U.S. Bancorp, which is rapidly expanding in Southern California.
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