Deals
Western Alliance Buys Apollo-Backed AmeriHome for $1 Billion
- Company had planned to go public before shelving offering
- Housing boom has fueled record profit in mortgage industry
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Western Alliance Bancorporation is buying the mortgage company AmeriHome for about $1 billion in cash, as the pandemic housing boom in the U.S. fuels industry consolidation.
Western Alliance has reached an agreement to purchase Aris Mortgage Holding Company, the parent company of California-based AmeriHome, according to a statement on Tuesday.