Randal Nardone, Co-founder of Fortress Investment Group

Randal Nardone
Randal Nardone's comments about Softbank's Acquisition of Fortress

Randal Nardone’s comments about Softbank’s Acquisition of Fortress

The Japanese megabank Softbank has confirmed the acquisition of Fortress Investments Group. The deal was announced 12/27/2017 after news about the deal leaked early in the year. The final papers have been signed with the company’s shareholders set to receive $3.3 billion from Softbank.

Fortress shareholders will receive compensation based on each entities shareholding. Class A shareholders are guaranteed to receive at least $8.08 for each share they hold. Following the finalization of the acquisition, Softbank has become the sole shareholder of all Fortress Investment Group shares.

The New York stock exchange also expressed that they are going to delist Fortress shares from their listed shares. This announcement comes after regulators authorized the deal. According to the terms of the agreement, Softbank is going to allow the current management of Fortress Investment to remain in place.

Shortly after the deal was finalized, Mr. Randal Nardone said that he was optimistic about the agreement and the future of the company. He noted that the investment interests of Fortress remains in the industries in which it has always invested.

As such, Mr. Randal said that the company would continue to invest in railroads, hedge funds, credit funds, real estate, and private equity. Mr. Randal Nardone also noted that they expect Softbank Group’s acquisition of Fortress to enable them to access bigger sources of credit, which will allow them to expand and accelerate its growth.

Mr. Randal Nardone also maintains that the deal was great for his company’s investors because Softbank acquired the firm at $8.08 per share at a time when its share was trading at $5.83. The significant difference in pricing meant that shareholders got more per share as compared to the current share value. Mr. Randal Nardone first graduated as a lawyer from Boston University of law and later with a business degree from University of Connecticut. He serves as a board member to more than eight companies.

Learn more: http://www.4-traders.com/business-leaders/Randal-Alan-Nardone-0031P8-E/biography/

Comment (1)

  1. Zahra Collin (Post author)

    Fortress Investment Group is not a new name in the business world however not everyone is aware of those behind the success of this firm. The Fortress Investment Group was formed by three people and they have constantly built this business to be of international standard. Although Fortress Investment Group have been sold to Softbank as I read from this relationship blog however, the management would be retained by the new owners. Randal Nardone one of the co-founders believes that despite the change of ownership the firm will continue in the investment in railroads, hedge funds, credit funds among others.

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