Brief: Siebert And Kennedy Cabot report definitive agreement

Siebert Financial

02/09/2016 14:02

Sept 2 (Reuters) - Siebert Financial Corp  SIEB.O : 
    * Siebert Financial Corp. And Kennedy Cabot Acquisition, llc 
 announce definitive agreement 
    * Kennedy Cabot Acquisition will acquire approximately 90% 
of the outstanding common stock of siebert financial corp 
    * Kennedy Cabot Acquisition will make a tender offer for the 
outstanding common stock of Siebert Financial not owned by the 
estate 
    * Siebert Estate will sell co to Kennedy Cabot Acquisition 
for $12.65 million or approximately $0.66 per share 
    * Acquisition agreement does not provide for the merger of 
siebert financial with or into kennedy cabot acquisition 
    * Says $1,000,000 of purchase price payable to co by 
acquisition will be held in escrow for one year after closing 
 
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