Shareholders Okay Great Western Deal

Great Western Financial Corp. shareholders approved the company’s merger with Washington Mutual Inc. at a special meeting Friday.

The merger, valued at about $8.1 billion based on Thursday’s closing price for Washington Mutual shares, will create the biggest U.S. savings institution as measured by assets. It links Seattle-based Washington Mutual, the largest thrift based in the Northwest, with Great Western, California’s second-largest thrift. The approval follows a decision by rival bidder H.F. Ahmanson to withdraw its unsolicited offer for Great Western.

Washington Mutual shareholders also were voting on the merger Friday.