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Markets | WALL ST. ROUNDUP

July 26, 2006|From Reuters

Savings and loan giant Washington Mutual Inc., which is restructuring its operations, said Tuesday that it agreed to sell its WM Advisors Inc. asset management unit to Principal Financial Group Inc. for $740 million in cash. Seattle-based WM Advisors had about $26.4 billion of assets under management, and advises the WM Group of mutual funds.