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FirstCash Holdings, Inc. (NASDAQ:FCFS) announced Wednesday that shareholders of H&T Group (LON:HTGR) plc have approved the proposed acquisition by Chess Bidco Limited, a wholly owned subsidiary of FirstCash. The approval came as part of a court-sanctioned scheme of arrangement under Part 26 of the UK Companies Act 2006.
The transaction, which has been previously announced, involves Bidco acquiring the entire issued and to be issued share capital of H&T Group. According to the company, the financial terms of the acquisition are final and will not be increased, except under specific circumstances outlined by the UK’s Panel on Takeovers and Mergers.
FirstCash stated that the acquisition is expected to be completed in the second half of 2025, pending satisfaction or waiver of remaining closing conditions, including approval from the UK Financial Conduct Authority.
The company provided this update in a press release furnished to the Securities and Exchange Commission on Wednesday.
FirstCash Holdings is based in Fort Worth, Texas, and its common stock is traded on the Nasdaq Stock Market under the symbol FCFS. H&T Group is incorporated in England and Wales.
This information is based on a statement released in a SEC filing.
In other recent news, FirstCash Holdings, Inc. reported first-quarter earnings that surpassed analyst expectations, driven by a strong demand for pawn loans and improvements in its retail point-of-sale payment solutions segment. The company posted adjusted earnings per share of $2.07, exceeding the consensus estimate of $1.73. Revenue reached $836.4 million, slightly above the expected $835.4 million. FirstCash experienced a notable increase in same-store pawn receivables, with growth of 13% in the U.S. and 14% in Latin America on a constant currency basis. Additionally, the company opened 12 new pawn locations during the quarter, expanding its operations to a total of 3,023 stores.
In other developments, Loop Capital Markets raised its price target for FirstCash to $145 from $140, maintaining a Buy rating. Analyst Anthony Chukumba highlighted the company’s impressive performance despite challenging economic conditions, particularly the strong results during the first-quarter earnings season. Furthermore, FirstCash stockholders approved key proposals at the recent Annual Meeting, including the election of directors and executive compensation. Daniel R. Feehan, Paula K. Garrett, and Marthea Davis were elected for a three-year term as directors. The appointment of RSM LLP as the independent registered public accounting firm for 2025 was also ratified, reflecting stockholder confidence in the company’s governance practices.
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