By Anthony O. Goriainoff

Shares in H&T rose after FirstCash said it agreed to acquire the British pawnbroker for up to $351 million.

Shares in early trade were up 182 pence, or 40%, at 640 pence.

The Fort Worth, Texas, pawn-store operator said Wednesday that under the terms of the acquisition, H&T shareholders will get 650 pence cash for each share. The deal also includes a final dividend of 11 pence due to be paid on June 27, subject to H&T shareholders' approval.

H&T said the board intended to unanimously recommend the acquisition to shareholders.

FirstCash said the offer represented a premium of around 44% to H&T's closing price on Tuesday of 458 pence.

The U.S. pawnbroker said the deal was financially compelling and presented it with an opportunity to expand operations into the U.K. and build on its strong strategic momentum.

It added that the combination will create the largest publicly traded pawn platform in the U.S., Latin America and the U.K.

FirstCash said that, subject to conditions being met, it expects the acquisition to become effective in the second half of 2025.

"This strategic transaction provides an entry into a significant new market, which we believe will unlock additional growth opportunities for FirstCash," FirstCash Chief Executive Rick Wessel said.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

May 14, 2025 03:49 ET (07:49 GMT)

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