Nicholas Financial Receives Acquirer Interest, Will Explore "Strategic Alternatives"

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Nicholas Financial (NASDAQ: NICK  ) has retained a financial advisor to help it evaluate "strategic alternatives" going forward. These include a potential sale of a part or the entirety of the company, acquisition activity, or the raising of new debt/equity financing.

In addition, the consumer finance specialist said it had received an unsolicited, non-binding indication of interest from a potential acquirer. It did not name this party, nor did it provide further details.  

The company's board of directors will evaluate the indication of interest and consider the recommendations of its advisor, financial-services firm Janney Montgomery Scott. Nicholas Financial said it "currently does not intend to make any further public announcements regarding its Board of Directors' review of possible strategic alternatives until this evaluation process has been completed."

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9/29/2016 12:33 PM
NICK $10.12 Down -0.04 -0.39%
Nicholas Financial CAPS Rating: ***