Lone Star extends tender offer for Accredited Home Lenders Holding Co.
After Friday's close, Accredited Home Lenders Holding Co. (Nasdaq: LEND) said it has received a preliminary number of tenders, subject to withdrawal, representing about 8.2 million of the company's outstanding shares. The shares tendered include approximately 32.6% of the outstanding shares of the company's common stock.
The San Diego-based mortgage banking company said in a statement that the tender offer is being conducted in connection with the anticipated merger of a Lone Star subsidiary into the company.
Over the last 52 weeks, shares of the small-cap company have ranged between $3.77 and $47.82. In pre-market trading, shares are up $1.31, or 13.8%, at $10.80.
