HSBC to buy US lender Household

British-based bank HSBC announced it has agreed to buy Household International for $14.2 billion.

British-based bank HSBC announced it has agreed to buy Household International for $14.2 billion.

The acquisition values each share in Household, the biggest independent consumer finance company in the United States, at around $30.

Household shareholders will be entitled to get 2.675 HSBC shares as part of the deal.