Pacific says the combined entity could post “$15 billion in annual mortgage origination volume” and realize “substantive revenue growth and economies of scale, materially improving bottom line profitability for its owners.”
Interestingly, this offer was originally made on March 11. Pacific says its “strong preference” was to “continue to communicate privately” with Invis, but it wanted to ensure the intended offer and its context was disclosed to “all shareholders.”
Invis’s Executive Vice President and Chief Financial Officer, Cameron Strong, dismissed the offer today, stating simply: “We are not for sale at that price. We consider this to be a frivolous offer.”
Pacific is the parent company of Mortgage Architects Inc., a national mortgage brokerage and myNext Mortgage Company Limited.