Proposes 7 usd per share (Il Sole 24 Ore Radiocor) - New York, 16 Aug - Bryant Riley, the co-founder and largest shareholder of B. Riley Financial Inc., said he had proposed to acquire all of the shares of the Company he does not presently own.

In a regulatory filing, Riley said he was proposing a purchase price of 7 dollars per share.

Riley said in a letter to the board the proposal 'does not constitute an offer or proposal capable of acceptance and may be withdrawn at any time.' Riley said he would not proceed unless it was approved by independent directors and a majority of shares he does not already own.

B. Riley Financial shares fell sharply this week after the investment bank said it had received subpoenas from regulators and it would suspend its dividend.

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(RADIOCOR) 16-08-24 16:59:39 (0337) 5 NNNN