Latest news with #Bayview
Yahoo
a day ago
- Business
- Yahoo
Mortgage Company Guild Agrees to $1.3 Billion Go-Private Deal; Shares Jump
Guild Holdings (GHLD) said Wednesday that a fund managed by Bayview Asset Management has agreed to a
Business Wire
2 days ago
- Business
- Business Wire
Guild Holdings Co. and Bayview Asset Management Sign Definitive Agreement
SAN DIEGO--(BUSINESS WIRE)--Guild Holdings Company (NYSE: GHLD) ('Guild'), a growth-oriented mortgage company that employs a relationship-based loan sourcing strategy to execute on its mission of delivering the promise of homeownership, today announced that it has signed a definitive agreement under which a fund managed by Bayview Asset Management, LLC ('Bayview') will acquire all of the outstanding shares of the Company's common stock that it does not already own in an all-cash transaction valued at approximately $1.3 billion in aggregate equity value. Upon completion of the transaction, Guild will operate as a privately held independent entity in close partnership with Lakeview Loan Servicing, LLC ('Lakeview'), a leading mortgage servicer and Bayview affiliate. Under the terms of the agreement, Guild stockholders will receive $20.00 in cash for each share of Guild common stock they hold. The transaction consideration represents a premium of approximately 56% to Guild's unaffected closing common stock price on May 23, 2025, the last trading day prior to the filing of Bayview's Schedule 13D announcing its potential interest in a transaction with Guild, and a premium of approximately 27% to Guild's tangible book value as of March 31, 2025. The Board of Directors also intends to authorize a special cash dividend of up to $0.25 per share in 2025 (based on Guild's cash on hand) and, if the merger is not consummated in 2025, quarterly cash dividends of up to $0.25 per share through the consummation of the merger. The payment of any dividends will not result in an adjustment to the $20.00 per share purchase price. Upon completion of the transaction, Guild will become a private company. McCarthy Capital Mortgage Investors, LLC has executed a written consent to approve the transaction, thereby providing the required stockholder approval for the transaction. No further action by other Guild stockholders is required to approve the transaction. Guild's leading nationally recognized retail mortgage origination and servicing platform will continue to build upon its historical success operating business as usual. Guild executives and management team, critical to ongoing growth and performance, will also remain in place. There will be no material change to Guild's brand, business operations or customer experience as a result of the agreement. The transaction is expected to close in the fourth quarter of 2025, subject to the satisfaction of customary closing conditions. The transaction is not subject to any financing conditions. 'Expanding the Guild relationship with Lakeview creates one of the strongest and most compelling mortgage origination and servicing ecosystems in the nation,' said Guild Chief Executive Terry Schmidt. 'Our expertise in distributed retail origination, retained servicing, and the customer-for-life balanced business model makes this a complementary partnership that has powerful potential for growth and innovation.' 'We are pleased to forge a stronger strategic partnership between Lakeview and Guild through this transaction, and look forward to expanding opportunities and delivering exceptional service to our customers," said Juan Gonzalez, Managing Director and CEO of Lakeview Originations. 'With each company's different strengths and areas of expertise, this collaboration will form one of the most dynamic mortgage origination and servicing platforms in the industry.' 'We are excited for this next chapter of the Guild story,' said Guild Holdings Chairman Patrick Duffy. 'The entire board of directors is confident that Bayview will be an excellent steward of this exceptional company and a great platform for continued growth.' Transaction benefits: Guild will continue to execute its strategic growth plans, and expects that this transaction will create additional opportunities for its employees and customers. Seamless transition: Guild's business operations will continue with no material changes planned as a result of the transaction. The company's brand, product and service offerings, and strategic relationships will all remain in place. Guild's executives and management teams will also remain intact. Guild will continue to operate as an independent entity. Retail origination and retained servicing: Guild's coast-to-coast distributed retail origination model and focus on building customers-for-life through retained in-house servicing will remain a hallmark of the brand. This business model will align in a powerful, complementary fashion with Lakeview's servicing portfolio of 2.8 million mortgage loans nationwide, and position Guild for additional origination and recapture opportunities. Growth and innovation: Guild, Lakeview, and their affiliates expect to identify numerous opportunities to unlock additional customer opportunities, new product offerings, and growth capital to fund expansion and innovation. Morgan Stanley & Co. LLC is acting as exclusive financial advisor to Guild, and Sullivan & Cromwell LLP is acting as legal advisor to Guild. Goldman Sachs & Co. LLC is serving as financial advisor and Simpson Thacher & Bartlett LLP is serving as legal counsel to Bayview. About Guild Holdings Company Guild Mortgage Company, a wholly owned subsidiary of Guild Holdings Company (NYSE: GHLD), was founded in 1960 and is a nationally recognized independent mortgage lender providing residential mortgage products and local in-house origination and servicing. Guild employs a relationship-based loan sourcing strategy to execute on its mission of delivering the promise of home ownership in neighborhoods and communities across 49 states and the District of Columbia. Guild's highly trained loan professionals are experienced in government-sponsored programs such as FHA, VA, USDA, down payment assistance programs and other specialized loan programs. For more information visit About Lakeview Lakeview Loan Servicing, LLC ('Lakeview') is a leading mortgage loan servicer in the U.S. with over 2.8 million customers. Forward-Looking Statements This press release of Guild Holdings Company (the 'Company') contains forward-looking statements that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as 'may,' 'should,' 'could,' 'predict,' 'potential,' 'believe,' 'will likely result,' 'expect,' 'continue,' 'will,' 'anticipate,' 'seek,' 'estimate,' 'intend,' 'plan,' 'projection,' 'would' and 'outlook,' or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. Forward-looking statements are based on the Company's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Important factors that could cause the Company's actual results to differ materially from those expressed in or implied by forward-looking statements include, but are not limited to, the following: the expected timing and likelihood of completion of the pending merger transaction; the timing, receipt and terms and conditions of any required governmental approvals of the pending transaction that may impose materially burdensome or adverse regulatory conditions, delay the transaction or cause the parties to abandon the transaction; potential legal proceedings that may be instituted against the Company following announcement of the transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; the risk that the parties may not be able to satisfy the conditions to the pending transaction in a timely manner or at all; risks related to disruption of management time from ongoing business operations due to the proposed transaction; the risk that any announcements relating to the pending transaction could have adverse effects on the market price of the Company's common stock; and the risk that the proposed transaction and its announcement could have an adverse effect on the ability of the Company to retain and hire key personnel and maintain relationships with its customers, agents or business counterparties, and on its operating results and businesses generally; significant changes to the size, structure, powers, and operations of the federal government and uncertainties regarding the potential for future changes, could cause disruptions to the regulatory environment in which we operate and could adversely impact our business and results of operations; changes in economic conditions, including as a result of macroeconomic policy changes by the U.S. government, may adversely impact our business, financial condition and results of operations; any disruptions in the secondary home loan market and their effects on our ability to sell the loans that we originate at attractive pricing; any changes in macroeconomic and U.S. residential real estate market conditions; any changes in certain U.S. government-sponsored entities and government agencies, and any organizational or pricing changes in these entities, their guidelines or their current roles; any changes in prevailing interest rates or U.S. monetary policies; the effects of any termination of our servicing rights; we depend on our loan funding facilities to fund mortgage loans and otherwise operate our business; the effects of our existing and future indebtedness on our liquidity and our ability to operate our business; any disruption in the technology that supports our origination and servicing platform; our failure to identify, develop and integrate acquisitions of other companies or technologies; pressure from existing and new competitors; any failure to maintain or grow our historical referral relationships with our referral partners; any delays in recovering service advances; any failure to adapt to and implement technological changes; any cybersecurity breaches or other vulnerability involving our computer systems or those of certain of our third-party service providers; our inability to secure additional capital, if needed, to operate and grow our business; the impact of operational risks, including employee or consumer fraud, the obligation to repurchase sold loans in the event of a documentation error, and data processing system failures and errors; any repurchase or indemnification obligations caused by the failure of the loans that we originate to meet certain criteria or characteristics; the seasonality of the mortgage origination industry; any non-compliance with or substantial changes to the complex laws and regulations governing our mortgage loan origination and servicing activities; material changes to the laws, regulations or practices applicable to reverse mortgage programs; our control by, and any conflicts of interest with, McCarthy Capital Mortgage Investors, LLC; our dependence, as a holding company, upon distributions from Guild Mortgage Company LLC to meet our obligations; ability to attract, retain and hire key personnel and maintain relationships with others with whom Guild does business; and the other risks set forth under Item IA. Risk Factors in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, as well as other filings the Company may make from time to time with the Securities and Exchange Commission. You should not place undue reliance on any such forward-looking statements. Unless indicated otherwise, the terms 'Guild,' and 'Company' each refer collectively to the Company and its subsidiaries. Any forward-looking statement speaks only as of the date on which it is made, and, except as otherwise required by law, the Company undertakes no obligation to update any forward-looking statement made in this press release. ADDITIONAL INFORMATION AND WHERE TO FIND IT This communication is being made in respect of the pending merger transaction involving Guild. Guild will prepare an information statement for its stockholders containing the information with respect to the transaction specified in Schedule 14C promulgated under the Exchange Act and describing the pending transaction. When completed, a definitive information statement will be mailed to Guild's stockholders. INVESTORS ARE URGED TO CAREFULLY READ THE INFORMATION STATEMENT REGARDING THE PENDING TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PENDING TRANSACTION. These documents will be available at no charge on the SEC's website at In addition, documents will also be available for free on Guild's website at
CBS News
06-06-2025
- Business
- CBS News
San Francisco's Bayview sees revitalization with new restaurants
A string of new restaurants in one San Francisco neighborhood is generating some buzz. There's no time to slow down for Kim Truong as soon as the doors open. "I got your food ready. Okay, let me go get you guys a rag for your table. Okay, give me one second. I'll be right with you, sir," said Truong. She and husband Jorge Islas opened Frank Grizzly's restaurant in the heart of the Bayview less than two years ago. It all began with a pop-up at the now-closed Anchor Brewing Company. "We did that pop-up, and we had a line out the door, which is crazy. We couldn't believe it. We're like, 'Oh my God. This is actually happening'," said Islas. Regulars said their cuisine, using locally sourced fresh ingredients, is generating plenty of buzz around the Bayview. But it's not just the food. The energetic vibe throughout the day and events they host, like "Beats and Eats," featuring live music and food at the restaurant, add to what has become a thriving hub of commerce and community. "This is the heartbeat of San Francisco, this community," said Truong. The main corridor of Bayview Hunters Point on 3rd Street has its fair share of challenges to fill vacant spaces, like many neighborhoods in San Francisco. All this wouldn't be what it is today if not for city-funded programs like the Bayview Maker's Kitchen, which Truong and Islas used to get their pop-up started. Their lease at 3rd and Bancroft is also partly funded by the city. Diana Ponce De Leon works for the city of San Francisco and is Director of Community Economic Development. "The benefits to the community are now that it's more vibrant. It's more lively," Ponce De Leon told CBS News Bay Area. The city's Office of Employment and Workforce Development said between 2016 and 2024, there has been an investment of $8 million in public funding into 3rd Street. "The storefronts are more beautiful. It attracts people to the services that they need, as well as create this level of economic opportunity for the neighborhood," said Ponce De Leon. Down the street from Frank Grizzly's, Gumbo Social also opened its first permanent location thanks to similar city-funded initiatives. "We are seeing more places pop up and more places open," said Gumbo Social manager Jasmine Ball. "We wouldn't have been able to open a restaurant in San Francisco had it not been for EDot and the Bayview Maker's Kitchen," said Truong. They're helping to create a more vibrant community, where they can work and spend time together, with family and friends. "Had this space never opened up, I'd have no idea what would have happened. It all just kind of worked out beautifully," said Truong. It's a win for small businesses and for the city, too.
Yahoo
04-06-2025
- Business
- Yahoo
In National Advertising Division Challenge, Bayview Pharmacy Voluntarily Discontinues Claims for its Compounded Semaglutide
BBB National Programs' National Advertising Division reviewed a challenge brought by Novo Nordisk Inc. regarding express and implied advertising claims made by Bayview Pharmacy Inc. for its compounded semaglutide products. New York, NY, June 04, 2025 (GLOBE NEWSWIRE) -- BBB National Programs' National Advertising Division reviewed a challenge brought by Novo Nordisk Inc. regarding express and implied advertising claims made by Bayview Pharmacy Inc. for its compounded semaglutide products. Novo Nordisk is a global pharmaceutical company specializing in diabetes care, including insulin and related products, as well as other chronic conditions including obesity, rare diseases, and cardiovascular conditions. Novo Nordisk is the sole manufacturer of the only FDA-approved semaglutide medicines: Ozempic® and Wegovy®. Bayview, a compounding pharmacy, marketed five concentrations of compounded semaglutide product for sublingual application for blood-sugar control and weight loss on its website. Novo Nordisk argued that Bayview's advertising conveyed misleading messages, including that its compounded 'semaglutide' sublingual suspensions are Ozempic® and/or is the same as a generic version of Ozempic®. In addition, Novo Nordisk argued that Bayview makes several misleading superiority claims about the bioavailability of its compounded semaglutide sublingual suspension. During the inquiry, Bayview informed the National Advertising Division (NAD) that it had permanently discontinued the challenged claims. Therefore, NAD did not review the claims on their merits and will treat the discontinued claims, for compliance purposes, as though NAD recommended they be discontinued. In its advertiser statement, Bayview stated it 'will comply with NAD's recommendations' and that it 'appreciates NAD's guidance.' All BBB National Programs case decision summaries can be found in the case decision library. For the full text of NAD, NARB, and CARU decisions, subscribe to the online archive. Per NAD/NARB Procedures, this release may not be used for promotional purposes. About BBB National Programs: BBB National Programs, a non-profit organization, is the home of U.S. independent industry self-regulation, currently operating more than 20 globally recognized programs that have been helping enhance consumer trust in business for more than 50 years. These programs provide third-party accountability and dispute resolution services that address existing and emerging industry issues, create fair competition for businesses, and a better experience for consumers. BBB National Programs continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-and-teen-directed marketing, data privacy, dispute resolution, automobile warranty, technology, and emerging areas. To learn more, visit About the National Advertising Division: The National Advertising Division (NAD) of BBB National Programs provides independent self-regulation and dispute resolution services, guiding the truthfulness of advertising across the U.S. NAD reviews national advertising in all media and its decisions set consistent standards for advertising truth and accuracy, delivering meaningful protection to consumers and create fair competition for business. CONTACT: Name: Jennie Rosenberg Email: jrosenberg@ Job Title: Media RelationsSign in to access your portfolio
Yahoo
27-05-2025
- Yahoo
Suspect held in deadly Muni stabbing in Bayview
The Brief A witness told KTVU the suspect had gotten into an argument with an older and younger man on the bus, took out a knife and stabbed the older man. The suspect got off the bus but was arrested by police on suspicion of murder, assault with a deadly weapon and elder abuse. The San Francisoc District Attorney's Office will review case. San Francisco - A man was stabbed to death while riding a Muni bus in San Francisco's Bayview, the second stabbing on the transit system in the same neighborhood in two months. The latest incident happened on a 9 San Bruno bus at Bayshore Boulevard and Cortland Avenue at about 4:30 p.m. Sunday. A witness who didn't want to go on camera told KTVU the suspect had gotten into an argument with an older and younger man on the bus and took out a knife. Both men tried to stop him. "And they held him down, hitting him with a belt buckle. The Latino guy happened to manage to get them both off, and from there that's when the knife came out," the witness said. The younger man got off the bus, but the suspect realized the older man was still on board. "And that's when the Latino (man), seeing that he was still sitting down when he actually grabbed the knife, just stabbed him right in his chest," he said. The victim died at a hospital. The suspect, Daniel Mendoza Garcia, 51, got off the bus but was arrested by police on suspicion of murder, assault with a deadly weapon and elder abuse. "It's nonsense. It's a waste of life. And it's just at a hair's trigger," the witness said. In a statement, Muni described the stabbing as a tragic and senseless act of violence. "Our hearts are with the victim and their loved ones," the statement said in part. "Criminal activity of any kind will never be tolerated on Muni, and we are committed to keeping the safety of our riders and staff as our top priority." Residents and Muni riders were shocked by the violence. "Obviously it's sad," said Mike Minardi, who lives nearby. "We've had our issues in this area, but I feel like, you know, it has gotten a little better in some regards." Temesghen Gebrezghi often takes two Muni lines to get to a recycling center near the crime scene. "I feel worried because it's very sad for this guy, you know? We don't need that," Gebrezghi said. Lydia Patubo is general manager of a garden center in the area. She said she's had issues with the proximity of the Muni bus shelter to her business, from public drunkenness to intruders. "They come in and we've had to chase them out," Patubo said. About seven or eight years ago, Patubo said she tried unsuccessfully to fight Muni's efforts to move the bus stop from a different corner to its current location. "This bus stop is a hub for homeless people, it's a urinal, it attracts criminals. When this bus stop was across the street, it's perfect. We had no trouble," she said. This is the second stabbing on Muni in the Bayview since March, when a teenage girl was stabbed on a Third Street light-rail vehicle. Two suspects were arrested in that case. Henry Lee is a KTVU crime reporter. E-mail Henry at and follow him on Twitter @henrykleeKTVU and The Source KTVU reporting, San Francisco police, Muni
