Monday, June 11, 2018

Rent-A-Center gets increased offer after ending strategic review

Rent-A-Center Inc said on Monday it received an increased offer to acquire the company from one of the suitors that was involved in its sale process, hours after the rent-to-own furniture retailer said it ended its strategic review.

In a letter to the company, the party said it “does not constitute an offer capable of being accepted or a binding agreement of any kind,” Rent-A-Center said.

“The (offer) 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,” Rent-A-Center said. . . . more