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FirstCash to Acquire H&T Group in £297 Million All-Cash Deal

The acquisition, offering a 44% premium to shareholders, positions FirstCash as the largest publicly traded pawn platform across the US, Latin America, and the UK.

Overview

  • H&T's board has unanimously agreed to recommend FirstCash's £297 million all-cash offer, valuing shares at 661p, including an 11p dividend.
  • The deal, pending UK regulatory approval, is expected to close in the second half of 2025, removing H&T from the London Stock Exchange.
  • FirstCash, with over 3,000 pawn locations globally, will add H&T's 285 UK stores, significantly expanding its international footprint.
  • The acquisition reflects broader trends of UK firms delisting from the London Stock Exchange, following recent exits like Darktrace and Flutter.
  • H&T, benefiting from rising gold prices and increased consumer demand, reported record profits and a pledge book of £127 million last year.