NEW YORK--Dime Bancorp confirmed today that it is in talks for a possible merger "with a larger financial institution.'' But the New York thrift said it is too early to say if the deal will go through.
Under the terms being negotiated, and based on current market prices, there would be a modest premium to Dime's current market price, the bank said in a statement.
Dime said that it would not make any further announcements regarding a possible transaction until a definitive agreement has been reached or negotiations have been terminated.
Dime did not name the suitor, but The Wall Street Journal reported Friday that Washington Mutual Inc., the nation's largest thrift, is in talks to acquire Dime. The newspaper quoted unnamed sources as saying the deal was valued at about $5 billion in stock and cash.
Last year, Dime fought off a hostile takeover bid from North Fork Bancorp.
