Billionaire Investor To Back Out Of Fremont General Deal


	Billionaire Investor To Back Out Of Fremont General Deal

scottpasinski

9-26-2007 3:41 PM

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tags:

fremont mortgage

scottpasinski says:

Some feel that this is likely a negotiating ploy to gain a better price for Fremont Mortgage, while others feel that the subprime mortgage implosion has deterred investors.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/30520f16-3b2f-46d4-8784-76c05b1b9a7c/E72AB28D-8709-4034-80DC-071A4410432B/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://uk.reuters.com/article/bankingfinancial-SP/idUKN2638585720070926?pageNumber=1" href="http://uk.reuters.com/article/bankingfinancial-SP/idUKN2638585720070926?pageNumber=1" style="font-size: 11px;">uk.reuters.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://uk.reuters.com/article/bankingfinancial-SP/idUKN2638585720070926?pageNumber=1"><P>The group led by billionaire investor and former thrift executive Gerald J. Ford had agreed to buy preferred stock and warrants in Fremont, for an initial 16 percent stake.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://uk.reuters.com/article/bankingfinancial-SP/idUKN2638585720070926?pageNumber=1"><P>Fremont, though, said that "in light of certain developments pertaining to the company" and its Fremont Investment & Loan unit, the Ford group was not prepared to invest. The company did not identify the developments.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://uk.reuters.com/article/bankingfinancial-SP/idUKN2638585720070926?pageNumber=1"> said an investment group may pull out of an agreement to inject $80 million to help insure the savings and loan's survival.</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/E72AB28D-8709-4034-80DC-071A4410432B/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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