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Miscellaneous

Takeover of PHH Over

JAN 1, 2008 5:44pm ET

MOUNT LAUREL, N.J. – PHH Corp., which operates the largest mortgage bank for credit unions, announced yesterday, New Year’s Day, it has terminated an agreement to be acquired by GE Capital after private equity firm the Blackstone Group failed to raise financing for the purchase of PHH’s mortgage business from...

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