In the latest chapter of the Accredited Home Lenders saga, Texas-based private equity firm Lone Star has sent a letter to the subprime mortgage company offering to loosen the financial conditions upon which the deal’s closure depends, if Accredited agrees to reduce the price of the deal from $400 million (€293 million) to $225 million.
Lone Star tries to cut Accredited price by $175m
Lone Star said in a letter to Accredited Home Lenders today that it would loosen the closing conditions of the deal if Accredited agrees to cut its price from $400 million to $225 million.
