B. Riley launches strategic review for some of its services, shares slump

By Thomson Reuters Feb 29, 2024 | 3:18 PM

(Reuters) – B. Riley said on Thursday it has launched a review of strategic alternatives for its appraisal and retail, wholesale and industrial solutions businesses, which could include a potential sale or other transaction.

Shares in the U.S. brokerage firm plunged 20% in extended trading.

The company has retained Moelis & Company LLC as an independent financial adviser to assist in its review.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shilpi Majumdar)