{"id":6945,"date":"2008-01-02T00:00:00","date_gmt":"2008-01-02T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"phh-ends-proposed-merger-with-ge","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/01\/2008\/phh-ends-proposed-merger-with-ge.html","title":{"rendered":"PHH ends proposed merger with GE"},"content":{"rendered":"<p>  Reuters- Mortgage and vehicle fleet company PHH Corp (PHH.N) said on Tuesday it terminated its nearly $2 billion sale to <span class=\"yshortcuts\">General Electric Co<\/span> (GE.N) and Blackstone,  after the private equity firm failed to obtain required financing for the deal.<\/p>\n<p>  GE and the Blackstone Group (BX.N) had agreed in March to acquire PHH for $1.8 billion. Under the terms, GE would retain PHH&#8217;s vehicle fleet company PHH Arval and would have sold <span class=  \"yshortcuts\">PHH Mortgage<\/span> to Blackstone immediately after closing.<\/p>\n<p>  &#8220;The board will determine in due course whether to continue to explore the company&#8217;s strategic alternatives,&#8221; A.B. Krongard, nonexecutive chairman, said in a statement.<\/p>\n<p>  <a href=\"http:\/\/us.rd.yahoo.com\/dailynews\/rss\/business\/*http:\/\/news.yahoo.com\/s\/nm\/20080101\/bs_nm\/phhcorp_dc\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters- Mortgage and vehicle fleet company PHH Corp (PHH.N) said on Tuesday it terminated its nearly $2 billion sale to General Electric Co (GE.N) and Blackstone, after the private equity firm failed to obtain required financing for the deal. GE [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6945","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=6945"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6945\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=6945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=6945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=6945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}