(Reuters) - PHH's Arval fleet business is to be retained by GE while
PHH Mortgage will be taken over by Blackstone.
In a letter to PHH, hedge fund Pennant Capital Management,
which holds about 7.8 percent of the company, said PHH
stockholders would gain more from the company remaining public.
The fund said both the mortgages business and the fleet
business are showing "accelerated profit growth."
Read more at Reuters.com Mergers News
PHH Mortgage will be taken over by Blackstone.
In a letter to PHH, hedge fund Pennant Capital Management,
which holds about 7.8 percent of the company, said PHH
stockholders would gain more from the company remaining public.
The fund said both the mortgages business and the fleet
business are showing "accelerated profit growth."
Read more at Reuters.com Mergers News
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