Ally Financial’s $750 Million Acquisition of Fair Square Financial

Skadden, Arps, Slate, Meagher & Flom advised Fair Square Financial on the deal.

Ally Financial Inc. (“Ally”) entered into a definitive agreement to acquire Fair Square Financial for $750 million in an all-cash transaction. The transaction was unanimously approved by Ally’s board of directors and is expected to close by the end of the first quarter 2022. 

Ally Financial Inc. (NYSE: ALLY) is a digital financial services company committed to its promise to “Do It Right” for its consumer, commercial and corporate customers. 

Fair Square Financial (FSF) is a card tech company serving hard-working Americans who are on a mission to better their financial future.

The Skadden team included Financial Institutions and M&A partner Sven Mickisch (Picture; New York), counsel Matthew Nemeroff (New York) and associate Seulbee Lee (New York); Financial Institutions Regulation and Enforcement partners Brian Christiansen (Washington, D.C.) and Bao Nguyen (Washington, D.C.); Executive Compensation and Benefits partner Shalom Huber (New York); and Tax partner Jessica Hough (Washington, D.C.) and associate Robert Stevenson (Washington, D.C.). 

Involved fees earner: Brian Christiansen – Skadden Arps Slate Meager & Flom; Jessica Hough – Skadden Arps Slate Meager & Flom; Shalom Huber – Skadden Arps Slate Meager & Flom; Seulbee Lee – Skadden Arps Slate Meager & Flom; Sven Mickisch – Skadden Arps Slate Meager & Flom; Matthew Nemeroff – Skadden Arps Slate Meager & Flom; Bao Nguyen – Skadden Arps Slate Meager & Flom; Robert Stevenson – Skadden Arps Slate Meager & Flom;

Law Firms: Skadden Arps Slate Meager & Flom;

Clients: Fair Square Financial;