Exciting update: Accredited Home Lenders Holding Co and private equity fund Lone Star said on Tuesday they have amended their June 4 merger agreement to settle a pending lawsuit between the companies.

The amended agreement reduces the price at which Lone Star agrees to acquire Accredited shares to $11.75 per share.

The acquisition remains structured as an all-cash tender offer, though the Accredited Mortgage Loan REIT preferred securities will remain outstanding.
Patrick | 09.18.07 - 9:43 pm | #

Patrick, thanks for the heads up. I did get a post up about this yesterday.

best, PJ
P. Jackson | Homepage | 09.20.07 - 12:12 am | #