Mortgage lender Resimac has made a A$130 million offer to acquire the mortgage assets of RHG Ltd. The bid has been made in conjunction with a proposal by Australian Mortgage Acquisition Co to acquire all of RHG's shares by a scheme of arrangement.AMAC is a newly established company set up by a former RHG director, Trevor Loewensohn.The offer, which is non-binding and conditional, is worth 43 cents a share. Since early March, RHG stock has traded at around 40 cents a share.RHG's funding dried up during the financial crisis and since then its business has been managing a mortgage book in run-off. For the six months to December it made a net profit of $16.1 million, and at December 31 it had loan assets worth $2.4 billion and net tangible assets of 34.5 cents a share.RHG announced earlier in the year that it had received an expression of interest but did not name the bidder.Resimac's executive director, Mary Ploughman, confirmed Resimac has been in talks with RHG for some time.Ploughman said: "Given that RHG is operating in wind-down mode, a key requirement of the RHG board was that the transaction result in an offer for the company's shares rather than a purchase of the assets."AMAC will assist in facilitating this outcome."The proposal is for AMAC to buy RHG's shares and to then on-sell the mortgage assets to Resimac. AMAC will take responsibility for winding up the RHG corporate group.