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

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