H.F. Ahmanson & Co. said Monday it will no longer wait for Great Western Financial Corp. to respond to its unsolicited takeover bid, and instead will launch a hostile tender offer.

Ahmanson wants to offer Great Western shareholders the same terms that it proposed to management-1.2 Ahmanson shares for each Great Western share. At current prices, Great Western holders would receive $48 a share, or a 7.6% premium over Great Western's market price.

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