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February 2008, Automotive Fleet - Feature

PHH Terminates Merger Agreement with GE: What's Ahead?

By Mike Antich

On Jan. 1, PHH Corp. terminated the $1.8 billion merger agreement because it was not consummated by the stipulated Dec. 31, 2007 deadline. The key problem was Blackstone’s inability to fund its acquisition of PHH Mortgage.

Tags: GE Capital, PHH

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A specialized form of leasing wherein some or all fleet costs are estimated in advance, then budgeted and billed by the fleet management company with periodic invoices (usually monthly).

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