B. Riley says co-founder has offered to take it private By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 16 2024
0mins
Source: Investing.com
Bryant Riley's Offer: B. Riley Financial co-founder Bryant Riley has made an unsolicited offer to buy the bank at $7 per share, valuing it at $212 million, which is a 39% premium over its last closing price but significantly lower than its nearly $17 price just a week ago.
Review and Financing Concerns: The offer will be reviewed by a special committee of independent directors, and while Riley claims financing for the deal won't be an issue, there are concerns about his financial leverage and whether the board will approve the bid.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
