logo
Plus   Neg
Share
Email

Rent-A-Center Receives Increased Takeover Offer Following Conclusion Of Review

Rent-A-Center, Inc. (RCII) announced Monday that it has received a letter containing an increased offer to acquire the company following the company's announcement of the conclusion of its strategic and financial alternatives review process.

Rent-A-Center said the letter was from one of the parties which had previously been involved in the process, and the letter further stated that it "does not constitute an offer capable of being accepted or a binding agreement of any kind."

The letter was not accompanied by equity commitment letters that would be necessary for the company to evaluate whether to enter into an agreement with an acquisition entity possessing no assets.

"Consistent with its fiduciary duties, the Board would carefully consider any credible proposal with the assistance of its outside financial and legal advisors to determine whether a proposal would ultimately maximize stockholder value," the company said in its statement.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Walmart Inc. (WMT) reported adjusted EPS of $1.41 for the fourth-quarter of fiscal 2019. On average, 27 analysts polled by Thomson Reuters expected the company to report profit per share of $1.33 for the quarter. Analysts' estimates typically exclude special items. Net income attributable to Walmart... Anglo-Australian miner BHP, formerly known as BHP Billiton, reported Tuesday higher attributable profit in its first half, while revenues were flat. Underlying EBITDA margin was lower. Further, the company maintained its dividend. Looking ahead, the company said its productivity for the 2019 financial year is now expected to be broadly flat. Asia-focused lender HSBC Holdings Plc reported Tuesday higher profit in its fiscal 2018 reflecting revenue growth in all of global businesses, despite a challenging fourth quarter. Further, the company said it reported a good start to 2019, noting that Group revenue performance in January was ahead of plan for the month. In London, HSBC shares were losing around 4 percent in the morning trading.
Follow RTT