Lone Star Extends Tender Offer for Accredited

Published July 30, 2007, 2:00 p.m. EDT

1 Min Read

LSF5 Accredited Investments LLC, a subsidiary of Dallas-based Lone Star Fund V (U.S.) LP, has announced an extension of its tender offer for all outstanding common shares of San Diego-based Accredited Home Lenders Holding Co. until midnight on Aug. 14.Lone Star said that, as anticipated, it had not obtained all the needed state regulatory approvals as of July 27. At that time, it had received preliminary tenders (subject to withdrawal) representing approximately 8.21 million of Accredited's outstanding shares, or about 32.7%, Lone Star reported. The tender offer is being conducted in connection with the expected merger of a Lone Star subsidiary with Accredited.

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