Deerfield Capital rises on acquisition news
Deerfield Capital Corp. (NYSE: DFR) shares are climbing after it said it completed the acquisition of its external manager from Triarc Cos, a New York-based Arby’s restaurant franchisor.
Deerfield’s external manager, Deerfield & Co. LLC, is a fixed income asset manager. Triarc has been in the midst of a corporate restructuring in an effort to focus on its restaurant business.
In midday trading, DFR shares are up 12.06%, or $0.99, at $9.20. Over the last 52 weeks, shares have ranged from $5.45 to $17.44.
