Reservoir Media Shares Rise After Firm Gets Non-Binding Indication

MT Newswires Live

03/05

Reservoir Media (RSVR) shares were up over 4% in recent Wednesday trading after the company received an unsolicited, non-binding indication of interest from one of its shareholders.

Late Tuesday, the firm said Irenic Capital Management proposes to acquire its shares at between $10.00 and $11.00 a share in cash.

The music company said its board is evaluating the indication.

Price: 9.40, Change: +0.40, Percent Change: +4.44

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