Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ARLINGTON, VA-Financial holding company Friedman, Billings, Ramsey Group Inc. and FBR Asset Investment Corp., a REIT, have decided to merge, inking a definitive agreement for a stock for stock exchange. “The successor company will be the Friedman, Billings, Ramsey Group Inc,” the FBR Group’s Bob Leahy tells GlobeSt.com. And the successor company will have a book value in excess of $1 billion.

“From FBR Group’s perspective, this transaction will add more than $700 million of new capital, and create new business flexibility and earnings stability, while providing substantial dividends to our shareholders in a tax efficient manner,” FBR Group chairman and co-CEO Emanuel Friedman says in a written statement. “The resulting company’s book equity will make it one of the largest public investment banks in the United States.”

The FBR Group came into being nearly 15 years ago and is the brainchild of a group of securities analysts, traders and brokers who built up the company’s name by approaching its endeavors purely from a research perspective. Now, company officials say, the FBR Group is among the top 10 equity capital market companies in the country. FBR Asset was created five years ago as a separate entity. Among other advantages, the merger–which will likely close in the first quarter of next year–will allow the two organizations to decrease overall leverage and internalize management.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.