Predator Now Owns Metris as Deal Closes
HSBC Finance Corp is the new name for predatory lender Household International.
PROSPECT HEIGHTS, Ill.–(BUSINESS WIRE)–Dec. 1, 2005–HSBC Finance Corporation, (NYSE: HBC) the consumer finance arm of one of the world’s largest financial services companies, today announced the closing of its acquisition of Metris Companies Inc. (NYSE: MXT)
The total consideration paid by HSBC to Metris shareholders in the transaction was approximately $1.6 billion in cash. Under terms of the agreement, each holder of Metris common stock has received $15 a share. “We believe that the acquisition of Metris deepens HSBC’s already strong ability to serve the full spectrum of credit card customers,” said Bobby Mehta, chairman and CEO of HSBC Finance Corp.
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