Accredited Home Lenders announced Monday that it has sued private equity firm Lone Star Fund in an effort to encourage Lone Star’s takeover efforts of Accredited, reports the Associated Press. The move follows Lone Star saying on Friday that Accredited wouldn’t meet the conditions Loan Star made in June when it first moved forward with its takeover plans. Loan Star’s flagging interest in the subprime mortgage lender have coincided with the downturn in the subprime arena and mortgage lending in general. More than 50 lenders have already gone bankrupt.
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|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
|1||Bank of America Merrill Lynch (BAML)||4,755||19||11.75|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|2||Bank of America Merrill Lynch||64,298.92||202||11.54%|
|3||Wells Fargo Securities||55,583.74||178||9.98%|