Market Overview

FirstCity Financial Corporation to Be Acquired by Värde Partners for $10/Share


FirstCity Financial Corporation (NASDAQ: FCFC) and Värde Partners, Inc. (“Värde”) announced today that they
have entered into a definitive merger agreement under which certain
funds managed by Värde will acquire FirstCity. Under the terms of the
merger agreement, FirstCity stockholders will receive $10.00 per share
in cash for each share of FirstCity stock they own. The transaction is
valued at $224.9 million, including debt.

The $10.00 per share consideration represents a 20.5% premium to the
closing price of FirstCity's shares on December 20, 2012, and a 22.8%
premium to the 30-day average closing price of $8.14. The transaction is
expected to close in the first half of 2013.

See full press release

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


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