Underneath the regards to the contract, that has been unanimously approved by the panels of directors of both organizations, money America investors will receive an exchange that is fixed of 0.84 First Cash shares for every Cash America share they own. After the close for the transaction, First money investors will acquire more or less 58% regarding the combined business, and Cash America investors will have roughly 42%.
Following closing regarding the deal, FirstCash may be headquartered in Fort Worth, Texas.
Pending conclusion of this deal, both organizations be prepared to continue steadily to pay quarterly money dividends under each companyвЂ™s existing dividend policy and particular stock repurchase programs will likely be suspended.
The deal is anticipated to shut when you look at the second half of 2016, susceptible to the satisfaction of customary closing conditions, the termination or termination associated with the applicable Hart-Scott-Rodino waiting period and approvals because of the investors of both First money and money America.
Credit Suisse is serving as lead monetary consultant to First money and Comstock Capital & Advisory Group, LLC and Pi Capital Overseas LLC additionally served as economic advisors to First money.