Blackstone scraps PHH bid
The US group's banks have fallen short of the financing needed to complete the $1.8bn buyout of PHH, a mortgage and leasing group, leaving Blackstone facing a potential $50m abort fee.
The US group's banks have fallen short of the financing needed to complete the $1.8bn buyout of PHH, a mortgage and leasing group, leaving Blackstone facing a potential $50m abort fee.
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