Trade with Eva: Analytics in action >>

Friday, November 24, 2017

=OneMain Holdings, Inc. (NYSE: OMF) : sale off the table

  • OneMain (OMF) sale off the table
  • The company announced today the commencement of a public offering of 10,000,000 shares of its common stock by Springleaf Financial Holdings, an entity owned primarily by a private equity fund managed by an affiliate of Fortress Investment Group (FIG).

Nov 7:
Shares of OneMain Holdings, Inc. (NYSE: OMF) plunged as new disclosure suggests that it backed away from an earlier decision to put itself up for sale. Language in its financial filings suggests that a sale of the business was considered, but is now off the table.

OneMain Holdings stock jumped on Oct. 9 when the Wall Street Journal broke the news that the company was in talks to sell itself, reporting that it was in "advanced discussions with a number of interested parties."

The read-through is that OneMain Holdings considered putting itself up for sale, but is no longer entertaining the option for reasons that were not disclosed.
It could have been as simple as the buyer's inability to locate attractive financing, or as troublesome as concerns over OneMain Holding's underlying loan performance.

No comments:

Post a Comment