Home›ETFs & Funds›Fund Industry›Simplify Asset Management tops rival bid for Marygold…

Simplify Asset Management tops rival bid for Marygold and USCF

The new cash offer is $2.25 a share, after Madison Dearborn agreed to buy Marygold for $2.00 a share last week.

Reported · Written up by our desk · Fund Industry

ETF Trends reports that Simplify Asset Management has submitted a proposal to the board of The Marygold Companies to buy the firm for $2.25 a share in cash.

The outlet notes that the higher offer comes after Madison Dearborn Partners struck a deal last week to acquire Marygold at $2.00 a share, making Simplify’s offer the current top bid.

ETF Trends also says Simplify characterized its move as the second offer it has submitted for the full acquisition of Marygold in recent days, and pointed to a letter submitted to the board on September 27.

According to ETF Trends, Simplify said it admires the business Marygold and its USCF brand have built and argued the proposal would best serve Marygold’s board and shareholders.

More like this

Sources