Front Yard Residential going private in $2.4B deal

• Front Yard Residential (NYSE:RESI) is up 33% premarket after a deal to be sold to a group led by Pretium and Ares Management (NYSE:ARES).
• The all-cash purchase values Front Yard at $2.4B. It's expected to close in Q1 of 2021.
• The bull case on Front Yard for years is that it's been trading at a sizable discount to the value of its assets. The above-listed private-equity players seem to agree, at least now.
• Source: Press Release

Comments

[alcabbie]

Been sitting there doing nothing, paying no dividends, for almost a year now... probably good riddance... 50% loss for me after 5 years or so...

[Riskman]

@alcabbieWell said.... now can reinvest !