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Monday, May 29, 2023

Bank Time Line

Feb. 17 Ahmanson makes an unsolicited offer to acquire Great Western in a $6.5 billion deal offering 1.05 shares of Ahmanson stock for each Great Western share.

Feb. 25 Great Western issues a memorandum to employees detailing a new severance policy guaranteeing at least six months’ pay to any laid-off worker following a merger.

Feb. 25 Great Western indefinitely postpones its annual shareholders meeting, originally scheduled for April 22.

March 6 Great Western and Washington Mutual sign a definitive merger agreement under which Washington Mutual offers nine-tenths of a share of its stock for each Great Western share.

March 17 Ahmanson raises its buyout offer to between 1.1 and 1.2 shares of Ahmanson stock for each Great Western share, depending on the value of Ahmanson’s stock on the day the deal closes.

April 11 Great Western sets its annual shareholders meeting for June 13.

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