B. Riley Financial acquires FBR & Co.

• B. Riley Financial (NASDAQ:RILY) -9.0% acquires FBR & Co. (FBRC) +12% for $160.1M or $20.28/share.
• Each FBR shareholders will receive .671 shares of B. Riley common stock and an anticipated pre-closing cash dividend of $8.50 per share, assuming funds are available for distribution.
• Richard Hendrix, FBR's current Chairman and CEO on closing will assume the role of CEO of the combined investment banking and brokerage business, which will be a subsidiary of B. Riley Financial.