B. Riley Financial Seeks to Acquire Spok Holdings Inc.

California-based B. Riley Financial, Inc. (NASDAQ: RILY) is looking to invest in healthcare communications systems with its proposed acquisition of Virginia’s Spok Holdings, Inc. (NASDAQ: SPOK). In a regulatory filing today, Spok confirmed it received a letter from the diversified financial services provider, offering to purchase all of its outstanding common stock for $12 per share. The offer represents about a 39% premium above Spok’s Monday close of $8.66. If an agreement is reached, the acquisition would cost B. Riley Financial $226.2 million based on Spok’s 18.85 million outstanding shares. Spok specializes in workflow solutions for hospitals and healthcare systems and has more than 2,200 customers across the country generating $170 million in annual revenues, according to the company website. Its platform’s capabilities include on-call scheduling, clinical alerts, testing notifications, schedule management and secure messaging. However there’s no guarantee Spok will agree to a buyout.

Read the full article: B. Riley Financial Seeks to Acquire Spok Holdings Inc. //

Source: https://www.forbes.com/sites/harrisonmiller/2020/03/17/b-riley-financial-seeks-to-acquire-spok-holdings-inc/#3a15a67b19db

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