Mayer Brown advises special committee in sale of Mercury Financial to Atlanticus Holdings
Mayer Brown served as legal counsel to the special committee of the board of the seller of Mercury Financial LLC (“Mercury”) in connection with Mercury’s acquisition by Atlanticus Holdings Corporation (NASDAQ: ATLC) (“Atlanticus”).
Mercury is a leading data- and tech-centric credit card platform utilized by bank partners to provide credit cards to near-prime consumers in the US. At the closing, Mercury became a wholly-owned subsidiary of Atlanticus.
The acquisition of Mercury adds an established top 25 credit card program to the suite of programs that Atlanticus manages on behalf of bank partners. Mercury’s credit card offerings including Mercury branded and co-branded programs. As a result of the transaction, Atlanticus added 1.3 million credit card accounts serviced and $3.2 billion in credit card receivables.
The Mayer Brown team advising the special committee of the board of the seller was led by Mergers & Acquisitions partners Joe Castelluccio and Ryan Ferris and included Restructuring partner Louis Chiappetta and associate Joshua Gross in the firm’s New York and Chicago offices.
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