United Financial merges with Airlie and ARHMortgagePress.comUnited Financial Mortgage Corporation, AIrlie Opportunity Master Fund Ltd., ARH Mortgage Inc., mergers
United Financial Mortgage
Corporation (UFMC) has announced that it signed a definitive
merger agreement with ARH Mortgage Inc. and the Airlie Opportunity
Master Fund Ltd. Under the terms of the merger agreement, Airlie
will acquire the company for $5.64 per share of common stock in
cash.
Upon completion of the acquisition, UFMC will become a
subsidiary of Airlie and continue to operate out of its Oak Brook,
Ill. headquarters as United Financial Mortgage Corporation. Steve
Khoshabe, president and CEO of UFMC, will continue to serve in his
current role. In addition, UFMC anticipates that it will retain
substantially all of its employees. The parties anticipate that the
closing will occur during the fourth calendar quarter of 2005.
Khoshabe emphasized that by joining forces with Airlie, both
UFMC's retail and wholesale customers will not only retain very
high levels of customer service, but will also gain access to a
wider range of products and services through the additional
resources that partnering with Airlie can offer.
Greenwich, Conn.-based Airlie Opportunity Master Fund Ltd.
focuses on investments in securities of leveraged middle-market
companies.
United Financial Mortgage Corporation, based in Oak Brook, Ill.,
is an independent mortgage banker that originates, funds, sells and
services residential and commercial mortgage loans. For more
information, call (800) 898-UFMC or visit www.ufmc.com.
