Market Overview

From Earlier: Grupo Elektra to Acquire Advance America for $10.50 Per Share


Advance America, Cash Advance Centers, Inc. (NYSE: AEA) and Grupo Elektra, S.A.B. de C.V. yesterday announced that Advance America and subsidiaries of Grupo Elektra have entered into a definitive agreement under which Grupo Elektra will acquire control of all of the outstanding shares of Advance America for $10.50 per share in cash, representing a 32.7% premium to the Company's closing price of $7.91 on February 15, 2012 . The total transaction value is approximately $780 million, including the Company's outstanding debt as of December 31, 2011.

Posted-In: M&A News


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