MINNEAPOLIS, April 3 /PRNewswire/ -- Arcadia Financial Ltd. (NYSE: AAC)
announced today that the merger of AFCC Newco, Inc., a wholly owned subsidiary
of Associates First Capital Corporation (NYSE: AFS), with and into Arcadia has
become effective. As a result of the merger, Arcadia is now a wholly owned
subsidiary of The Associates.
Under the terms of the merger agreement, Arcadia shareholders will receive
for each share of Arcadia common stock $4.90 in cash, plus a residual value
obligation which will participate in cash flows in excess of agreed-upon
amounts released from Arcadia's existing securitization transactions.
SOURCE Arcadia Financial Ltd.
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http://www.prnewswire.com/comp/652638.html or fax,
800-758-5804, ext. 652638
CONTACT:
Scott Fjellman of Arcadia Financial Ltd.,
612-944-4582, fjelsr@arcadiafin.com
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