Why OneMain Holdings Inc Stock Jumped 11% on Monday

OneMain Holdings Inc (NYSE: OMF) stock jumped by 11% as of 11:15 a.m. EDT after the Wall Street Journal broke the news that the company is putting itself up for sale. The WSJ wrote that OneMain is in "advanced discussions with a number of interested parties," including rival lenders and private equity firms, citing people familiar with the matter.

OneMain Holdings is itself the product of a merger between OneMain, which was once a subsidiary of Citigroup, and Springleaf Financial, a portfolio company of private equity shop Fortress Investment Group (NYSE: FIG). Fortress owns about 55% of the combined company today.

OneMain Holdings is on the block for a sale. Image source: Getty Images.

Source: Fool.com