On Friday, Shares of Spring leaf Holdings Inc (NYSE:LEAF), gained 11.47% to $49.27.
Springleaf Holdings, declared that it has reached a settlement with the U.S. Department of Justice (DOJ) and the state Attorneys General of seven states that will allow the company to proceed with closing its formerly declared acquisition of OneMain Financial Holdings, LLC. The details of the settlement have been filed with the U.S. District Court, Washington, D.C., whose approval of a stipulated asset preservation order is required preceding to closing. The company anticipates obtaining that approval shortly and proceeding with closing right away thereafter.
Under the terms of the agreement with the DOJ and the state Attorneys General, Spring leaf will sell 127 branches in 11 states. The company has reached a contract with Lendmark Financial Services of Covington, Georgia, to sell the branches to Lend mark. These branches represent 6% of the company’s branches and $608 million, or 4%, of the company’s receivables, on a pro forma basis for the combined company as of December 31, 2014. The sale to Lend mark is predictable to close on or about April 1, 2016.
Jay Levine, President and Chief Executive Officer of Spring leaf, said, “The transformational combination of Spring leaf and One Main will create the premier personal finance business in the United States, with branches across 43 states and 2.4 million customers. This will be a company that we believe is financially strong, committed to responsible lending and positioned for future growth. In addition, we share similar cultures and values, counting excellence in customer service and a deep commitment to the local communities that we serve. We look forward to welcoming One Main’s talented team members to the Spring leaf family, and to creating even greater value for all stakeholders.”
Spring leaf Holdings, Inc., through its auxiliaries, offers consumer finance and credit insurance products and services. It provides personal loans secured by consumer household goods, and other personal property; and unsecured loans.
Shares of Darling Ingredients Inc (NYSE:DAR), inclined 7.14% to $10.20, during its last trading session.
Darling Ingredients, declared financial results for the third quarter ended October 3, 2015.
For the third quarter of 2015, the Company stated net sales of $853.8 million, as contrast with net sales of $978.7 million for the third quarter of 2014. The $124.9 million decrease in net sales is attributable to lower finished product prices, primarily in the global competing ingredients prices and the foreign exchange rate impact of a weaker euro and Canadian dollar. Overall, global raw material volumes were stronger year over year.
Net loss attributable to Darling for the three months ended October 3, 2015, was $(9.1) million, or $(0.06) per diluted share, contrast to a net income of $14.3 million, or $0.09 per diluted share, in the three months ended September 27, 2014. This decrease is attributable to the impact of foreign exchange rates as a function of the strengthening U.S. dollar as contrast mainly to the euro and Canadian dollar and the impact of tax expense, which comprises discrete items that do not have a direct relationship with pre-tax earnings and a deferred tax asset write-down in a foreign jurisdiction, which were partially offset by improvements in operations. If extenders legislation is passed this year which is the same or similar to last year’s package counting the Biofuel Tax Credit and the Look-Through Rule, we expect the effective tax rate for the year to be about the same as last year, which was 16%.
Darling Ingredients Inc. develops, produces, and sells natural ingredients from edible and inedible bio-nutrients worldwide. It operates in three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients.
Finally, Shares of Retail MeNot Inc (NASDAQ:SALE), ended its last trade with -12.29% loss, and closed at $8.99.
RetailMeNot, Inc., the world’s largest marketplace for digital offers, declared that Austin Ventures, an early-stage venture capital investor, distributed the common stock of the Company held by its associated entities to their respective partners on November 12, 2015.
As of October 30, 2015, entities associated with Austin Ventures held 7,628,163 shares of common stock, or 14.6% of outstanding shares, of the Company.
RetailMeNot, Inc. operates a digital coupon marketplace. Its marketplace connects consumers with retailers and brands. The company owns and operates digital coupon Websites, counting RetailMeNot.com in the United States; VoucherCodes.co.uk in the United Kingdom; and Bons-de-Reduction.com, Poulpeo.com, and Ma-Reduc.com in France.
