United Companies Financial Corp. has scrapped its plans to acquire Empire Funding Corp.

United Companies had announced in October its intent to purchase the home improvement lender.

"Upon completion of due diligence, we decided we didn't want to complete the transaction," a United Companies spokesman said. He added that because of confidentiality agreements, he could not elaborate.

United Companies continues to "prudently" look at other home improvement lenders for acquisition, the spokesman said.

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