Market Overview

Elektra to Acquire Advance America For $10.50/Share


Mexican firm Grupo Elektra SAB announced its plans to acquire Advance America Cash Advance Centers Inc (NYSE: AEA) for around $656 million in cash.

However, the total value of the deal is around $780 million, inclusive of debt. The offer price values AEA at $10.50 a share, representing a 32.7% premium over the company's closing price of $7.91 on Wednesday.

The deal is likely to close during the first half of 2012.

AEA shares surged 26.55% to $10.01 in pre-market trading.

Posted-In: merger and acquisitionM&A News


Related Articles (AEA)

View Comments and Join the Discussion!

Dividend Cuts and mREITS

Westpac Posts Drop In Q1 Cash Profit