Investors Complete Purchase of BNC

An investment group led by top management of BNC Mortgage Inc. has completed its acquisition of the Irvine residential lender for about $47 million, or $10 a share, the company said Wednesday. The stock last traded Tuesday, closing at $9.94, up 13 cents a share, on the Nasdaq market.

Shareholders approved the deal Friday at a special meeting.

The transaction has had clear sailing since a group that included New York investment management firm Greenlight Capital withdrew a competing bid for BNC in May.