Debt buyer Encore Capital Group, Inc. (NASDAQ: ECPG) announced late Thursday that it has closed its acquisition of rival Asset Acceptance Capital Corp. The company said that all operating subsidiaries of Asset Acceptance are now part of Encore Capital Group. Asset Acceptance’s stock, NASDAQ ticker symbol AACC, will now be delisted.
Combined, Encore and Asset Acceptance have purchased over 60 million individual consumer accounts, including credit card, telecommunications, consumer loans and other related assets, with a face value of over $130 billion.
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