Deja vu all over again: Anderson Strudwick deal off

wunderlichAn out-of-state brokerage’s bid to buy Anderson Strudwick has been called off.

Employees at the Richmond brokerage, which is one of the last independent ones in the area, approved the $5.9 million deal in April and were waiting for checks for their stock (Anderson Strudwick was employee-owned). Apparently those checks never came. Click here to see the financial details of that deal.

Tennessee-based Wunderlich Securities did not go through with the deal, but sources familiar with the company do not know why Wunderlich backed out. Calls to Wunderlich went unreturned.

Anderson Strudwick employees heard the deal was off late Friday. The company, meanwhile, has been shedding staff, including employees from the HR, accounting and trading departments.

The deal had some false starts, but Richmond BizSense reported April 16 that the deal was a go. The slowing economy caused Wunderlich to try for a lower bid.

Aaron Kremer is the BizSense editor. Please send news tips to [email protected]

wunderlichAn out-of-state brokerage’s bid to buy Anderson Strudwick has been called off.

Employees at the Richmond brokerage, which is one of the last independent ones in the area, approved the $5.9 million deal in April and were waiting for checks for their stock (Anderson Strudwick was employee-owned). Apparently those checks never came. Click here to see the financial details of that deal.

Tennessee-based Wunderlich Securities did not go through with the deal, but sources familiar with the company do not know why Wunderlich backed out. Calls to Wunderlich went unreturned.

Anderson Strudwick employees heard the deal was off late Friday. The company, meanwhile, has been shedding staff, including employees from the HR, accounting and trading departments.

The deal had some false starts, but Richmond BizSense reported April 16 that the deal was a go. The slowing economy caused Wunderlich to try for a lower bid.

Aaron Kremer is the BizSense editor. Please send news tips to [email protected]

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING [email protected]

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.




Return to Homepage

Subscribe
Notify of
guest
2 Comments
oldest
newest most voted
Inline Feedbacks
View all comments
trackback
Monday Q&A: From the farm back to finance | Richmond BizSense
12 years ago

[…] When I was reporting about the Wunderlich deal back in May 2009, several sources said the firm was losing money. Is […]

trackback
Alabama firm to buy Anderson Strudwick | | USEFUL DOCUMENTUSEFUL DOCUMENT
10 years ago

[…] The organisation had been selling itself around for several years and was roughly sole — twice — to Wunderlich Securities. […]