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Ramsdens set to be snapped up in £206m deal by US pawnbroking giant
The deal gives Ramsdens shareholders up to 609p per share in cash, a 35% premium to the recent trading price, directors said.
- British pawnbroker Ramsdens agreed to a £206 million takeover by US rival FirstCash, moving the UK firm off the Alternative Investment Market into new American ownership.
- Under the acquisition terms, Ramsdens shareholders will receive up to 609p per share, representing a 35% premium to the latest closing price, with the board recommending the proposal.
- FirstCash, an international operator with over 3,300 locations, plans to utilize Ramsdens' 174 stores to expand across the north of England and Scotland.
- Ramsdens CEO Peter Kenyon expressed pride in the firm's transformational growth since its 2017 IPO, while non-executive chair Simon Herrick cited consistent profit upgrades supported by sustained high gold prices.
- Rick Wessel, Vice-Chairman of the Board of FirstCash, said the transaction demonstrates the company's long-term growth strategy, adding, "We have great confidence in Ramsdens.
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Ramsdens to be snapped up by rival US pawnbroker for £206m
The deal means that the firm will be taken off the Alternative Investment Market (AIM) and into new US ownership.
·London, United Kingdom
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Pawnbroker Ramsdens accepts £206m US takeover – Northern Financial Review
Teesside-based pawnbroker and foreign currency exchange Ramsdens Holdings plc on Tuesday agreed to a cash takeover bid worth up to £206 million from Texas-based Firstcash Holdings Inc. Ramsdens Shareholders would receive up to £6.09 per share, including £6.00 in cash and dividends of up to 9p. The offer represents a 33% premium to the Ramsdens closing price of £4.53 on the last business day prior to the start of the offer period. FirstCash ia a …
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Total News Sources17
Leaning Left2Leaning Right0Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
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