Accredited Home Lenders Holding Co. (LEND) Stock Jumps 50 Percent
Accredited Home Lenders Holding Co. said Friday it received the necessary regulatory approvals for the tender offer related to its acquisition by Lone Star Fund V L.P.
Last month Lone Star extended until Aug. 14 its tender offer to buy the Calabasas, Calif.-based mortgage lender for $15.10 per share, or $400 million. The initial offer was launched in June.
Lone Star said on July 30 that Accredited Home Lenders' shareholders had tendered 8.2 million shares, or less than a third of the company's outstanding stock.
Accredited Home Lenders has been fairing better than others in the struggling mortgage industry of late, primarily due to the Lone Star offer. Shares of many mortgage lenders have dropped to near multiyear lows on subprime mortgage concerns and eroding credit quality.
Last month Lone Star extended until Aug. 14 its tender offer to buy the Calabasas, Calif.-based mortgage lender for $15.10 per share, or $400 million. The initial offer was launched in June.
Lone Star said on July 30 that Accredited Home Lenders' shareholders had tendered 8.2 million shares, or less than a third of the company's outstanding stock.
Accredited Home Lenders has been fairing better than others in the struggling mortgage industry of late, primarily due to the Lone Star offer. Shares of many mortgage lenders have dropped to near multiyear lows on subprime mortgage concerns and eroding credit quality.
Labels: Accredited Home Lenders Holding Co., LEND
posted by Stock Administrator @ 1:21 PM
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