By James B. Kelleher, Reuters
When Washington Mutual Inc. offered to buy Providian Financial Corp. for $6.45 billion in early June, it kicked off what turned out to be a summer of consolidation in the U.S. credit-card industry.
It also kicked off a debate that has demonstrated — in more ways than one — the extent to which dealmaking remains an art, not a science.
At the heart of the debate is a seemingly simple question: Is Washington Mutual’s $18.71 a share offer price for Providian fair?
The answer is now in the hands of Providian shareholders, who will vote on the merger on Wednesday.
For this complete story, please visit Providian Debate Shows Dealmaking Art, Not Science.
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