May 24, 2016
A Hunton & Williams cross-office, multidisciplinary transaction team led by Dallas partner Steve Leshin served as legal counsel to Cash America International, Inc. (NYSE:CSH) in connection with its definitive merger agreement under which Cash America and First Cash Financial Services, Inc. (NASDAQ:FCFS) will combine in a $2.4 billion “merger of equals” transaction. Fort Worth, Texas-based Cash America and First Cash Financial, which is based in Arlington, Texas, are two of the leading operators of retail pawn stores. The definitive merger agreement under which the two companies will combine is a tax free, all-stock transaction. The combined company, to be named FirstCash, Inc., will have one of the largest retail pawn store footprints in Latin America and the United States, with almost 1,200 locations in the United States and more than 900 locations in Latin America, with combined estimated 2016 revenues of $1.75 billion. The transaction is expected to close in the second half of 2016, subject to shareholder approval of both companies, expiration or termination of the applicable Hart-Scott-Rodino waiting period and other customary conditions.
Other team members from Hunton on the transaction included corporate partners Lindsay Ferguson and Steve Haas, and corporate associates Katie Hull and Patrick Quine; tax partner Jeff Blair and tax associate Mark Melton; antitrust partners Bruce Hoffman and Amanda Wait and counsel Greg Kinzelman; employee benefits partner Baker Rector; labor and employment partner Alan Marcuis; privacy associate Ryan Logan; and intellectual property partner Bob King.