CIFC Shares Jump On $333 Million Buyout Offer

CIFC LLC shares were halted late Friday after the private debt investment manager agreed to be acquired by investment platform F.A.B. Partners for $333 million cash. CIFC shares jumped 44% to $10 after hours before being halted. Under the agreement, CIFC stockholders will get $11.46 a share, with $11.36 for each share and 10 cents a share cash distribution on Sept. 12 to shareholders of record as of Aug. 31.

Copyright © 2016 MarketWatch, Inc.