Article: Local Focus.(Business)

HSBC acquisition of Metris in the books

PROSPECT HEIGHTS -HSBC Finance Corp., the sixth largest issuer of MasterCard and Visa credit cards in the U.S., on Thursday announced the closing of its acquisition of Minnetonka, Minn.-based Metris Companies Inc., currently the 11th largest issuer of the cards. The total consideration paid by HSBC Finance, the consumer lending division of HSBC - North America Holdings Inc., to Metris shareholders was about $1.6 billion in cash. Under terms of the agreement, ...

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