Market Overview

Bexil Announces Acquisition Agreement by Bexil American Mortgage

Bexil Corporation (BXLC)
announced today that its majority owned subsidiary, Bexil American
Mortgage Inc., has signed a stock purchase agreement under which it
would acquire 90% of the equity in a small mortgage bank, and obtain an
option to acquire the remaining 10% in the future. Although in
connection with the acquisition, both Bexil and Boulderado Group expect
to provide additional capital to Bexil American Mortgage, financial
terms were not disclosed. If it occurs, the closing of the stock
purchase agreement, which is subject to customary closing and other
conditions, would normally be announced in the first quarter of 2013. It
is anticipated that the acquisition may provide Bexil American Mortgage
with potentially a broader product offering and certain

See full press release

Posted-In: News Guidance Contracts Asset Sales Management M&A

 

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