Troika Media down on $125 mln Converge deal
24/02/2022 14:08
** Shares of Troika Media Group TRKA.O down 13.9% at $1.29
in premarket trading
** TRKA has signed an agreement to acquire Converge Direct
Llc, a media and marketing company for $125 mln urn:newsml:reuters.com:*:nGNXbS81BD
** Troika will fund the transaction with a combination of
new debt financing, a restricted stock grant and cash on hand at
closing
** Co says Tom Marianacci, CEO of Converge, will remain CEO
of Converge entities and be a board adviser to Troika
** As of last close, stock up ~29% this year
(Reporting by Tiyashi Datta in Bengaluru)
((tiyashi.datta@thomsonreuters.com))
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