The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Jim McMannis who wrote (84802)	8/12/2007 9:59:52 AM
From: Lizzie Tudor	Read Replies (1) of 306849

did everybody see this on lend from 10pm friday? Accredited disputes Lone Star assertion NEW YORK, Aug 10 (Reuters) - Accredited Home Lenders Holding Co. (LEND.O: Quote, Profile, Research) said on Friday it believes all conditions to the closing of Lonestar's pending tender offer will be satisfied, disagreeing with a statement it said Lonestar's affiliates made on Aug. 10. Lonestar affiliates said in a filing with U.S. securities regulators that Accredited would fail to satisfy the conditions to closing Lonestar's tender offer, Accredited said. "Accredited... intends to hold Lone Star to its obligations and to hold it fully responsible for any damages caused by its failure to satisfy those obligations," Accredited said in a statement. Accredited shares rose 14 percent on Friday after the troubled subprime lender received regulatory approvals to move forward with the sale of the company to Lone Star. But shares were trading at less than half the price that Lone Star offered, representing investor fears that the deal will fall through or be renegotiated at a lower price.

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