Law360 (September 24, 2020, 5:49 PM EDT) — Japanese auto leasing and financial services groups Mitsubishi UFJ Lease and Hitachi Capital said Thursday they’ve agreed to a $2.8 billion merger to help them both better withstand macroeconomic changes in the world.

Mitsubishi UFJ Lease & Finance Co. Ltd. and Hitachi Capital Corp. said in statements that the deal is a continuation of a 2016 alliance between them, as well as the recognition they can complement each other’s businesses and will be more resilient to external forces through a merger.

As part of the deal, Mitsubishi UFJ Lease will absorb Hitachi Capital and pay its target’s shareholders about 294 billion…

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