Lone Star extends tender offer for Accredited Home
NEW YORK, Aug 14 (Reuters) - Private equity firm Lone Star said on Tuesday it is extending its tender offer for outstanding shares of subprime mortgage lender Accredited Home Lenders Holding Co.LEND.O, which it agreed to acquire in June, to Aug. 28.
Lone Star said it had received about 11 million shares, or 43 percent of Accredited Home's common stock, at the close of business on Monday.
Lone Star, a subsidiary of Lone Star Fund V (U.S.) L.P., earlier extended its tender offer for Accredited Home by 10 business days on July 30, saying at the time 33 percent of the mortgage lender's outstanding shares had been tendered.
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