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Tuesday, October 20, 2020
Banking First Cash, Cash America shareholders approve merger

First Cash, Cash America shareholders approve merger

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Arlington-based First Cash Financial Services and Cash America International Inc., Fort Worth, announced Aug. 31 that shareholders of both companies have “overwhelmingly approved the merger of equals transaction between the two companies.”

The closing of the merger transaction is expected to occur today, Sept. 1. The combined company will be named FirstCash, Inc. and will be listed on the New York Stock Exchange under the ticker symbol of FCFS where it will begin trading on Sept. 2.

“We are extremely pleased with the exceptionally strong support of both sets of shareholders in approving the merger between Cash America and First Cash,” Rick L. Wessel, CEO of First Cash, and T. Brent Stuart, president and CEO of Cash America said in a joint statement. “We are now focused on successfully integrating the businesses and realizing the anticipated benefits of the merger that will bring together the leading pawn lenders in both the U.S. and Latin American markets. The combined company will have over 2,000 locations in the U.S. and Latin America with total annual revenue of approximately $1.8 billion, which we believe represents the largest pawn lender in the world.”

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