Stock Alert: Consumer Portfolio Jumps 35% On Acquisition Proposal

(RTTNews) - Shares of Consumer Portfolio Services, Inc. (CPSS) surged about 35% on Thursday morning after Auto Experience Inc. proposed to acquire the company for the $135 million.

CPSS is currently trading at $4.52, up $1.17 or 34.9254%, on the Nasdaq.

On October 7, Auto Experience, created in 2018 to pursue strategic business opportunities in the automobile financing market, proposed to acquire Consumer Portfolio for about $6.18 per share.

Based in Irvine, California, Consumer Portfolio Services is an independent specialty finance company that provides indirect automobile financing to consumers.