Ramsdens’ share price has increased by over 13% after FirstCash announced that it has reached an agreement on its "final" £232m acquisition offer for the UK pawn store operator.

The US firm’s offer, which has been increased from an initial £203m cash consideration, will see Ramsdens shareholders be entitled to up to £6.84 in cash per share, comprising £6.75 per share and permitted dividends of nine pence.

FirstCash’s offer also represents a 13% premium to the cash consideration of £6 per Ramsdens share announced on 23 June, as well as a 49% premium on the UK firm’s closing share price on 22 June, which was the last business day prior to the takeover announcement.

Following its previous offer, FirstCash said the acquisition would allow it to continue to expand its UK geographical footprint, after acquiring H&T Group last year for £289m.

Ramsdens also said last month that the previous offer represents an opportunity for its shareholders to realise an immediate cash return at a “significant premium to the recent trading price”.

The UK firm’s directors therefore continue to recommend unanimously that scheme shareholders vote in favour of the deal.

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