United Online Inc.has finally agreed to be acquired by B. Riley Financial Inc.
B. Riley Financial and some of its affiliates signed a definitiveagreement to purchase United Online for $11.00 per share, or about $170 millionin cash.
The companies expect the transaction to close in the third quarter,subject to satisfaction of customary conditions such as United Online's stockholders'approval.
United Online has been pursuing strategic alternatives, includinga sale of the individual units and the company as a whole for quite some time. offeredto buy all of the shares of United Online for $12.50 per share in November 2015.But the company rejectedthe buyout offer at that time.
In March, the company reached a deal to sell certain properties to Ströer Content Group GmbH for€16 million.
B. Riley Financial's financial services subsidiaries includeB. Riley & Co. LLC,B. Riley Asset Management LLC,B. Riley Capital Management LLC and Great American Group LLC.