BERWYN, Pa. (AP) -- A private equity firm will spend about $337 million to take the payday lender DFC Global off the publicly traded market.
The companies value the total deal at about $1.3 billion, when debt is included.
DFC Global Corp., based in Berwyn, Pa., operates Money Mart, The Check Cashing Store and other stores and websites around the world.
DFC investors will receive $9.50 for each share they own, almost a 6% premium to Tuesday's closing price of $8.98. The company has about 38.6 million shares outstanding.
The deal is expected to close in the third quarter of 2014.
Shares rose 7% to $9.60 before the market opened Wednesday.
The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.