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JMP Group evaluating restructuring transaction to become publicly traded partnership


Tuesday, 29 Jul 2014 04:45pm EDT 

JMP Group Inc:Announces that its board of directors has instructed its management to finalize its due diligence regarding the potential consummation of a transaction.Transaction whereby the company would enter into a series of related and concurrent internal transactions to convert its corporate form into a limited liability company that would be taxed as a partnership, and not as a corporation, for U.S. federal income tax purposes.Under such a restructuring plan, JMP would enter into an agreement and plan of merger with a newly formed, wholly owned limited liability company subsidiary, JMP Group LLC, and a newly formed Delaware corporation and indirect wholly owned subsidiary, JMP Merger Corp. 

Company Quote

6.35
-0.25 -3.79%
24 Oct 2014