B. Riley Financial (RILY) is in talks to sell its wealth management business to Stifel Financial (SF) for more than $100M, David French of Reuters reports, citing a source familiar with the matter. Talks are ongoing after Stifel approached B. Riley about acquiring the wealth management unit, the source told Reuters. Shares of B. Riley are up 7% to $6.17 following the report.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RILY:
- B. Riley in talks to sell wealth management unit to Stifel, Reuters reports
- B Riley Financial options imply 10.1% move in share price post-earnings
- Largest borrow rate increases among liquid names
- B Riley Financial options imply 8.7% move in share price post-earnings
- B Riley Financial options imply 8.3% move in share price post-earnings