Washington Mutual announced that it is has entered an agreement to buy Providian Financial in a stock and cash transaction totaling nearly $6.45 billion. According to Washington Mutual, Providian will become the company's fourth major business unit and will continue to operate out of its current headquarters in San Francisco. Washington Mutual also said it will keep Providian's management team and infrastructure. This should make for a smooth integration, and a quick and easy transition.
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