Reported about 2 months ago
Bryant Riley, co-founder and majority shareholder of B. Riley Financial, has informally proposed to purchase the remaining shares of the struggling investment firm at $7 each, representing a nearly 40% premium over the recent closing price. This bid is contingent upon approval from independent directors and shareholders, as the firm faces significant challenges including a suspended dividend and an SEC investigation. Riley emphasized his commitment to maintaining financial disclosures and transparency amid the ongoing scrutiny.
Source: YAHOO