B. Riley Financials completed the acquisition of FBR for $160m

B. Riley Financial, a diversified financial services company, completed the acquisition of FBR, an investment banking and brokerage firm, in a transaction valued at $160m. "FBR's leadership in investment banking and its sector coverage, combined with minimal overlap on our existing brokerage business, makes this a very powerful combination for our clients. This merger with FBR represents a great strategic and cultural fit for B. Riley with strong franchises in areas complementary to our existing businesses. The combined firm will enjoy an increased capital base as well as meaningful revenue and expense synergies," Bryant Riley, B. Riley Financial Chairman and CEO.