Behind The Acquisition Of Fortress Investment Group By Softbank

Fortress Investment Group is a highly diversified and the leading global investment manager. The institution manages up to $42.1 billion of assets on behalf of more than 1,750 institutional clients including private investors.

The company uses its specialized expertise and broad experience across various investment strategies such as credit, liquid markets, traditional asset management, and private equity. The cornerstone of the company is investment performance, and they are determined to obtain strong risk-adjusted returns that will benefit the investors.

In 2007, SoftBank a multinational internet and telecommunications corporation announced its move to acquire Fortress Investment Group for $3.3 billion. This move by SoftBank was aimed at making itself become one of the largest investment firms in the world market. The agreement is considered complete when all the conditions have been satisfied including the closing of the transaction, approval of the transaction, and receipt of the regulatory approvals.

The agreement between the two companies provided that the outstanding Class A shares of Fortress Investment Group should be converted to the right to receive $8.08 per share in cash. The merger is expected to be distributed according to the payment procedure stated in the agreement. In addition, Fortress Investment Group stopped trading its stock and it was removed from the Stock Exchange market. The financial results of Fortress Investment were consolidated and reflected on SBG.

According to the agreement, Fortress Investment Group will be operating under SoftBank acting as an independent business with its headquarters in New York. The principals of Fortress such as Wes Edens, Randy Nardone, and Pete Briger will continue to lead the company. The excellent track record of Fortress speaks for itself, and SoftBank wants to benefit from its leadership who have world-class investment platform, and broad-based expertise.

FIG saw the acquisition as an opportunity to join one on the innovative investors in the world and enter global markets. SoftBank is has maintained the brand, business model, personnel, leadership, culture, and processes of FIG that have helped the company success in the industry to date.

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