Alesco Financial shareholders to decide merger with subsidiary Dec. 15

By Lisa Kerner

Charlotte, N.C., Oct. 28 - Alesco Financial Inc. stockholders will be asked to approve the company's proposed merger with its subsidiary, Cohen & Co., at the annual meeting at 10 a.m. ET on Dec. 15.

The record date for the meeting is Oct. 30, according to an Alesco news release.

In February 2009, Alesco announced it will merge with Cohen, a privately held investment firm specializing in credit-related fixed-income investments.

According to a prior Alesco news release, members of Cohen will have the option to exchange each of their membership units for either shares of common stock of Alesco or replacement units of membership interest in Cohen that may be exchanged into Alesco shares in the future.

Alesco shareholders will continue to hold their shares, and the company will continue to be publicly traded.

Philadelphia-based Alesco is a specialty finance real estate investment trust.

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