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New Deal


Announced

Ocwen Financial Corporation acquired PHH Corporation for $360m.

Financials

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Transaction Value£342m
Consideration Type-
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium7.9%
One Off Charge-

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financial services

Diversified Financials

United States

Public

Acquisition

Pending

Friendly

Single Bidder

Synopsis

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Ocwen Financial Corporation, a leading financial services holding company, today announced a definitive agreement under which Ocwen will acquire all of the outstanding shares of PHH Corporation, a mortgage platform with established servicing and origination recapture capabilities, for approximately $360 million in cash or $11 per diluted common share. The purchase price represents a 35 percent discount to PHH’s GAAP book equity at December 31, 2017.

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