| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
B. Riley Financial, Inc. (NASDAQ:RILY) shares are trading higher on Wednesday.
Oaktree Capital is in discussions to obtain a majority stake in two enterprises owned by B. Riley, reported Bloomberg.
Oaktree is planning to acquire a stake in the band of 51% to 55% in B. Riley’s appraisal and valuation services unit and its retail, wholesale and industrial solutions division, entities formerly known as Great American Group, the report read, citing people familiar with the discussions.
B. Riley purchased the business in 2014. An agreement esteems the units at around $380 million, Bloomberg added. The agreement could be announced next week. However, the company has not yet finalized the transaction.
Also Read: Top 3 Financials Stocks Which Could Rescue Your Portfolio This Month
The report added that there are even chances that the terms change or the deal fails to happen last minute.
“Our review of strategic alternatives for Great American Group is advancing and we look forward to providing additional updates when appropriate,” B. Riley said earlier in the month.
Last week, the company announced it received a preliminary non-binding proposal from its co-founder Bryant Riley.
Its shares are at a 10-year low after the company suspended its dividend, revealed it might register its largest-ever quarterly loss, and disclosed that the SEC is investigating the company, the report highlighted.
According to Benzinga Pro, RILY stock has lost over 84% in the past year.
Price Action: RILY shares are trading higher by 32.4% to $7.26 at last check Wednesday.
Image: Pete Linforth from Pixabay
Read Next:
Posted In: RILY
