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Thursday, Oct 6, 2022
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B. Riley in $160 Million Merger

B. Riley Financial announced Tuesday it will merge with FBR & Co in a $160 million transaction. B. Riley in Woodland Hills and FBR in Arlington, Va., are both financial brokerages and investment banks, but cover different geographical and industry sectors. Also, FBR has expertise in staging initial public offerings for companies. The transaction will involve a stock-for-stock exchange, as both B. Riley and FBR currently trade on the Nasdaq. “FBR’s leadership in investment banking and its sector coverage, combined with minimal overlap on our existing brokerage business, makes this a very powerful combination for our clients,” said Bryant Riley, chief executive of B. Riley Financial. Shares of B. Riley closed down $1.30, or 7.4 percent, to $16.25 on the Nasdaq.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.
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