Credit Services & Lending M&A » By The Online Investor Staff, updated Sun., Jul. 3, 4:26 PM
Recent mergers and acquisitions in the Credit Services & Lending M&A category.
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Slide #58. Encore Capital Group — Asset Acceptance
Acquirer:
Encore Capital Group (NASDAQ:ECPG)
Acquiree:
Asset Acceptance
Details:
Encore Capital Group, Inc. (NASDAQ: ECPG) announced today that it has closed its acquisition of Asset Acceptance Capital Corp. All operating subsidiaries of Asset Acceptance are now part of Encore Capital Group. Combined, Encore and Asset Acceptance have purchased over 60 million individual consumer accounts, including credit card, telecommunications, consumer loans and other related assets, with a face value of over $130 billion.
Encore Capital Group is an international specialty finance company providing debt recovery solutions and other related services for consumers across a range of financial assets. Co. primarily purchases portfolios of defaulted consumer receivables at discounts to face value and manage them by working with individuals as they repay their obligations and work toward financial recovery. Defaulted receivables are consumers' unpaid financial obligations to credit originators. Defaulted receivables may also include receivables subject to bankruptcy proceedings. Co. also provides debt servicing and other portfolio management services to credit originators for non-performing loans in Europe.
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Avg. Broker Rec.
 
|
Buy (3.33 out of 4) 37th percentile
(ranked lower than approx. 63% of all stocks covered)
Analysts' Target Price: ECPG Stock Forecast Based on Zacks ABR data; powered by Xignite |
