New York – July 25, 2006 – LAWFUEL – Law News Service – Debevoise & Plimpton LLP is advising The Principal Financial Group(R) in its agreement to acquire WM Advisors, Inc., manager of the WM Group of Funds, and its subsidiaries from Washington Mutual, Inc. for $740 million in cash, subject to closing adjustments. Closing of the transaction is subject to regulatory and other approvals.
The Principal Financial Group(R) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies and national network of financial professionals. A member of the Fortune 500, the Principal Financial Group has $205.3 billion in assets under management and serves some 16.0 million customers worldwide. Debevoise & Plimpton LLP is a leading international law firm with offices in New York, Washington D.C., London, Paris, Frankfurt, Moscow, Hong Kong and Shanghai.
The team was led by partner Robert F. Quaintance, and included partners Andrew N. Berg, Kenneth J. Berman, and Lawrence K. Cagney; counsel Timothy Bass; and associates Joshua Agen, James E. Franklin, III, Francis S. Kuo, Huey-Fun Lee, Juan L. Ramirez and Charles E. Wachsstock.