Conseco Unit Accepts Bid From CFN, GE

Conseco Finance Corp., the mobile-home lender that drove parent Conseco Inc. into bankruptcy protection, accepted a $1.01-billion takeover offer from CFN Investments and a General Electric Co. unit.

CFN, a venture capital firm, will pay $700 million in cash and GE Consumer Finance will buy Conseco’s Mill Creek Bank unit for $310 million in a transaction that must be approved by the Bankruptcy Court.