M&A - FirstCash Holdings, Inc.

Form Type: 8-K

Filing Date: 2025-05-14

Corporate Action: Acquisition

Type: New

Accession Number: 000084048925000067

Filing Summary: On May 14, 2025, FirstCash Holdings, Inc. announced that Chess Bidco Limited, a wholly-owned subsidiary, has reached an agreement with H&T Group plc regarding a final recommended cash offer for all of H&T's share capital. H&T shareholders will receive 661 pence per share in cash, consisting of 650 pence from Bidco and an 11 pence final dividend. This acquisition is to be executed through a court-sanctioned scheme of arrangement, requiring majority approval from H&T shareholders and regulatory approval from multiple authorities. The transaction is expected to conclude in the latter half of 2025, given all conditions are met. Additionally, Bidco signed a co-operation agreement with H&T for regulatory approvals and management of share options, while H&T directors holding shares committed to vote in favor of the acquisition. The company has planned financing strategies through amendments to its credit facility and is set to utilize a Bridge Credit Agreement for necessary funding. Compliance with both UK and U.S. regulatory standards is detailed, emphasizing various risk factors that could affect the successful completion of the acquisition.