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Element Financial Corp.'s acquisition of General Electric Co.'s fleet management business was a chance to become an industry leader in a business that generates strong, predictable returns, Element CEO Steven Hudson said during a June 29 conference call to discuss the merger.
"We like our fleet business a lot," Hudson said. "We like our other verticals, but ... [fleet] is a low-risk, highly predictable, high ROE business -- high ROA," Hudson said.
Element has agreed to buy General Electric Capital...