Ramsdens has agreed to be bought by US pawnbroking rival FirstCash for £206 million. Shareholders will receive up to 609p per share, a 35% premium to the latest closing price, and the deal will take the firm off London's Alternative Investment Market. FirstCash, which operates around 3,300 sites internationally and is listed on Nasdaq, said acquiring Ramsdens' 174 stores will expand its UK presence, especially in northern England and Scotland. The acquisition includes Ramsdens' pawnbroking, precious metals buying, jewellery retail, and foreign exchange businesses. Ramsdens' share price jumped about 30% following the announcement.
Ramsdens Holdings PLCRamsdens agrees to be bought at 609p per share, a 35% premium, and shares jumped 30%.
FirstCash IncFirstCash acquires Ramsdens at a premium, expanding UK presence and adding 174 stores.