Renet Financial Inc.: The Anaheim mortgage and...
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Renet Financial Inc.: The Anaheim mortgage and consumer lender has finalized an agreement to acquire publicly traded Market Data Corp. Houston-based Market Data, which is much smaller than Renet, will issue 11 million additional shares of stock and give them to Renet. Market Data, which is traded over the counter, currently has about 5.5 million outstanding shares. When the acquisition is completed, Renet stockholders will own 66% of the combined new company. Renet’s shareholders will be restricted from selling their stock for two years.
Renet attempted to acquire Market Data last year but the deal fell through when the companies could not agree on final terms.
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