Private equity firm Lone Star Fund V wants to pay a lower price for mortgage company Accredited Home Lenders Holding, the latest in a string of buyouts that are in trouble or being renegotiated. Lone Star had agreed in June to pay $15.10 per share, or $400 million, but late Thursday it told Accredited that it wanted to pay $8.50 per share. In exchange, the mortgage lender could seek other buyers. Accredited has sued Lone Star in a Delaware court to try to force the equity firm to close the deal.
September 04, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Private equity firm Lone Star Fund V LP wants to pay a lower price for mortgage company Accredited Home Lenders Holding Co., the latest in a string of buyouts that are in trouble or being renegotiated.
In exchange for the reduced price, Lone Star offered to let Accredited seek other buyers.
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