FirstCash Holdings, Inc., a leading international operator of retail pawn stores, has announced its strategic acquisition of H&T Group plc, the largest pawn store operator in the United Kingdom. This move, valued at approximately £297 million or $394 million USD, marks FirstCash's entry into the UK market, expanding its global footprint beyond the United States and Latin America. The acquisition is expected to be significantly accretive to EBITDA and EPS, enhancing FirstCash's position as a global leader in pawn operations.

The deal, finalized through FirstCash's newly incorporated wholly-owned UK subsidiary, Chess Bidco Limited, involves a cash consideration of 650 pence per H&T share, plus a final dividend of 11 pence per share. This transaction not only diversifies FirstCash's geographic presence but also combines two industry-leading brands to create the largest publicly traded pawn platform across the US, Latin America, and the UK. Rick Wessel, CEO of FirstCash, expressed enthusiasm about the acquisition, highlighting the growth opportunities it unlocks in a new and attractive market.

H&T Group, founded in 1897, operates over 270 shops across England, Scotland, and Wales, and has recently seen a surge in business due to the financial strain on households amid the cost of living crisis. The acquisition by FirstCash represents a 44% premium to H&T's closing share price before the announcement, underscoring the strategic value both parties see in the deal. Chris Gillespie, H&T's CEO, praised the acquisition for its compelling strategic rationale and the bright future it promises for H&T under FirstCash's ownership.

This transaction is another example of a major UK-listed company being acquired by a foreign entity, leading to its departure from the London Stock Exchange. It reflects broader trends in the global financial market, where companies seek to consolidate their positions through strategic acquisitions. The deal between FirstCash and H&T is a testament to the resilience and potential of the pawnbroking industry, especially in times of economic uncertainty.

US singer Chris Brown has been granted bail by a London court, allowing him to proceed with his upcoming world tour despite facing serious assault charges. The 36-year-old artist, known for hits like 'Loyal' and 'Under the Influence', was required to pay a £5 million security fee as part of his bail conditions. The charges stem from an alleged unprovoked attack on music producer Abraham Diaw in a London nightclub in 2023, where Brown is accused of using a tequila bottle to inflict grievous bodily harm.

Brown, who was not present at Southwark Crown Court for the bail hearing, has not yet entered a plea. Judge Tony Baumgartner set the bail conditions, which include surrendering his passport except for tour-related travel. The R&B star's Breezy Bowl XX tour is scheduled to begin on June 8 in the Netherlands, with stops across Europe, the United States, and Canada, including several UK cities.

The singer's release on bail comes after a brief detention in Manchester last week, marking his first return to the UK since the incident two years ago. Initially denied bail last Friday, Brown was granted conditional release on Wednesday, with the court requiring an immediate payment of £4 million and an additional £1 million within seven days. His next court appearance is set for June 20 at Southwark Crown Court.

Following his release, Brown took to Instagram to hint at his upcoming tour with a post captioned 'From the cage to the stage. Breezybowl.' The post underscores the singer's readiness to transition from his legal challenges back to the music scene, as he prepares to entertain fans worldwide amidst ongoing legal proceedings.