Reuters – Varde Partners Snaps Up FirstCity Financial

Specialty financial services company FirstCity Financial Corp. said it would be acquired by investment firm Varde Partners Inc. for about $106 million in cash. Varde will pay $10 per share – a 21 percent premium to FirstCity’s Thursday’s close of $8.30. The deal is valued at $225 million, including debt.

(Reuters) – Specialty financial services company FirstCity Financial Corp said it would be acquired by investment firm Varde Partners Inc for about $106 million in cash.

Varde will pay $10 per share – a 21 percent premium to FirstCity’s Thursday’s close of $8.30.

The deal is valued at $225 million, including debt.

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