Ahmanson Wins Round in Battle for GW

H.F. Ahmanson & Co. said it made headway in court Friday in its effort to force takeover target Great Western Financial Corp. to hold its annual meeting by May 6. Ahmanson, the parent of Home Savings of America, said the Delaware Chancery Court denied Great Western’s motion to dismiss Ahmanson’s charge that GW had violated its bylaws by delaying the annual meeting to June 13. The court ordered Great Western to produce evidence next week justifying its actions, Irwindale-based Ahmanson said. At the same time, Great Western pointed out that the court refused to grant Ahmanson’s request for an immediate injunction forcing GW to have the annual meeting by May 6. Chatsworth-based Great Western, which has a friendly merger agreement with Washington Mutual Inc. of Seattle, also said the court expressed skepticism about Ahmanson’s efforts to force an earlier meeting date. Ahmanson is trying to nominate a slate of directors to Great Western’s board before GW holds a special shareholders’ meeting that could seal a merger with Washington Mutual.