The Carlyle Group agreed to acquire Pioneer Credit, an Australian financial services provider, for $197m. "The Board of Pioneer has carefully considered a range of alternatives following an extensive process involving several parties. Having completed that process, the Board has unanimously concluded that, based on the Total Cash Consideration, the Scheme is in the best interests of our shareholders, in the absence of a Superior Proposal, and is also subject to an Independent Expert concluding (and continuing to conclude) that the Scheme is in the best interests of Pioneer shareholders," Michael Smith, Pioneer Chairman.