Santa Monica-based Fremont General said it ended...

Santa Monica-based Fremont General said it ended its previously announced agreement to acquire Malibu Savings Bank from U.S. Shelter Corp. of Greenville, S.C.--both sides citing “materially changed conditions” since applying for regulatory approval more than two years ago. Fremont General, an insurance and financial services company whose stock trades over the counter, also said it will make a tender offer to buy up to 2 million shares of its common stock from shareholders offering to sell at prices ranging from $12.50 to $15. The stock closed Friday at $11.50.