Simpson Thacher is representing Washington Mutual, Inc. in its announced $983 million acquisition of Commercial Capital Bancorp, Inc. Under the terms of the merger agreement, shareholders of Commercial Capital Bancorp will receive cash consideration of $16 for each Commercial Capital Bancorp share. The transaction is expected to be completed in the third quarter of 2006 and is subject to approval of Commercial Capital Bancorp’s shareholders and regulatory approvals.
Washington Mutual is one of the nation's leading consumer and small business banks. At March 31, 2006, Washington Mutual and its subsidiaries had assets of $348.67 billion. The company was established in 1889 and currently operates more than 2,600 consumer and small business banking stores throughout the nation. Commercial Capital Bancorp, based in Irvine, California, is a diversified financial services company providing deposit and lending products and services and 0131 exchange services.
The Simpson Thacher team includes Lee Meyerson, Maripat Alpuche, James Wallace and Catherine Kidd (M&A), Andrew O’Brien (Employee Benefits), Charles Rappaport and Noah Beck (Tax), Mardi Merjian (Real Estate), J. Scott Dyer (Labor), Michael Isby (Environmental) and Lori Lesser (IP). Invaluable assistance was provided by paralegal Scott Cross.