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Privately held mortgage lender Home Point Financial Corp. has agreed to acquire Stonegate Mortgage Corp. in an all-cash transaction.
The deal values Stonegate at about $211 million. Its shareholders will receive $8.00 per share for the transaction, a 61% premium over Stonegate Mortgage's 90-day volume-weighted average price as of Jan. 26 and a 34% premium over the company's closing price on Jan. 26.
The transaction was approved unanimously by Stonegate's board. It is expected to close...