Transportation Industry
Fleet Services Firm PHH Scraps Buyout
Transport Topics, January, 2008 by Anonymous
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PHH Corp., the parent of fleet services provider PHH Arval, said Jan. 1 it had abandoned a $1.8 billion buyout offer from General Electric Capital Corp. and private equity firm Blackstone Group because Blackstone could not secure financing.
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GE Capital, General Electric Co.'s consumer and commercial finance unit, and Blackstone first announced their proposed buyout of PHH in March (3-26, ...
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