new-recommended-broker-banner new-recommended-broker-banner

Front Yard Residential (RESI) Stock Surges On Takeover News

Updated: 19 Oct 2020

Front Yard Residential (NYSE: RESI) has announced that Private Equity company Ares Management (NYSE: ARES) and investment management firm Pretium will acquire the company.

The deal, which is valued at $2.4 billion, including debt, will see Front Yard shareholders receive $13.50 in cash per share. 

“We are excited to have reached an agreement with Pretium and Ares Management for the sale of our company, which we believe represents an outstanding, value-maximizing outcome for Front Yard stockholders,” commented George Ellison, Front Yard’s CEO.


The deal is expected to close in the first quarter of 2021.

Front Yard, a company that provides rental homes, has over 14,500 homes in its portfolio according to Reuters.

The news has seen its share price jump from $9.96 on Friday to $13.42 premarket on Monday, after a 34.74% rally. 


CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .