Fortress Investment Group LLC (FIG.N)
23 Feb 2017
TOKYO Japan's SoftBank Group Corp on Wednesday said it has agreed to buy Fortress Investment Group LLC for about $3.3 billion, looking to add investment expertise as it prepares to launch the world's largest private equity fund. | Video
* Fortress shareholders to receive $8.08 per share (Adds Evercore as financial adviser to Fortress)
* Fortress Investment Group LLC - will pay Softbank a termination fee of $98.4 million if merger breaks up under certain circumstances
NEW YORK (Reuters Breakingviews) - Masayoshi Son is fond of his "crazy ideas." Splashing out $3.3 billion for Fortress Investment, an alternative-investment firm, is unexpected but not exactly crazy. SoftBank, the Japanese entrepreneur's tech and telecoms group, has big ambitions in investing, and the New York-based firm knows how to put money to work.
* Softbank Group to acquire fortress investment group for $3.3 billion
Feb 14 Japan's SoftBank Group Corp said it would buy asset manager Fortress Investment Group LLC for about $3.3 billion.
BRIEF-SoftBank nears deal to buy Fortress Investment Group for more than $3 bln - WSJ, citing sources
* SoftBank nears deal to buy Fortress Investment Group for more than $3 billion - WSJ, citing sources Source text - http://on.wsj.com/2kHIyzx Further company coverage: (Bengaluru Newsroom)
* Fortress investment group - management fee paying assets under management of $70.1 billion as of september 30, down 6% compared to september 30, 2015
* Inventergy announces agreement with fortress investment group
NEW YORK, Aug 26 (IFR) - Private equity firms are increasingly choosing outright sales instead of IPOs when it comes to cashing out of their investments as ECM is unable to compete with buyers capitalising on accommodative debt markets.