|Bid||0.00 x 1000|
|Ask||0.00 x 900|
|Day's Range||14.77 - 14.91|
|52 Week Range||7.22 - 14.94|
|PE Ratio (TTM)||123.17|
|Earnings Date||Jul 24, 2018 - Jul 30, 2018|
|Forward Dividend & Yield||0.32 (3.17%)|
|1y Target Est||13.50|
NEW ORLEANS , June 20, 2018 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale ...
The Plano, Texas-based rent-to-own company increased when Vintage Capital Management, LLC agreed to take the company private. Now, as RCII stock is removed from trading, the company embarks on a new era as a private company. Although the direction in which Vintage will take Rent-A-Center remains unknown, the deal creates a chance to recover and move the company in a new direction outside of the public eye.
Option traders posted substantial gains in Rent-A-Center Inc. Monday, June 18 after reports that the company agreed to sell out to Vintage Capital for $15 a share. On May 22, Investitute's proprietary programs showed that investors bought 3,500 $11 calls expiring on Sept. 21 for 85 cents with shares at $10.09.
Moody's Investors Service today placed Rent-A-Center, Inc.'s ("Rent-A-Center", or the "Company") B2 Corporate Family Rating, B2-PD Probability of Default rating, Ba2 Senior Secured Credit Facilities ratings, and B3 Senior Unsecured debt ratings on review for downgrade. Rent-A-Center's SGL-3 Speculative Grade Liquidity rating remains unchanged. The Company's ratings Outlook was changed to Ratings Under Review from Negative.
The following statement is being issued by Levi & Korsinsky, LLP:
B. Riley Financial, Inc. (RILY), a diversified provider of financial and business advisory services, today announced it has agreed to provide financial support to Vintage Capital Management, LLC (“Vintage Capital”) in its affiliate’s acquisition of Rent-A-Center, Inc. (RCII). Vintage Capital has agreed to pay $15.00 per share in cash for each common share of Rent-A-Center, which including the assumption of net debt, represents a total transaction value of approximately $1.365 billion.
The deal will have Vintage Capital Management paying $800 million to acquire Rent-A-Center Inc. This comes to $15 per share for RCII stock. It is also a 48% premium over the stock’s closing price on Oct. 30, 2017, which is when its Board of Directors announced it was considering strategic alternatives. Vintage Capital Management says that it will be buying all outstanding shares of RCII stock with cash.
Vintage Capital will pay $15 per share in cash for Rent-A-Center , which went public in 1995. Shares of Rent-A-Center RCII soared more than 20 percent on Monday after the rent-to-own retailer announced it is being acquired by Vintage Capital Management. Vintage Capital will pay $15 per share in cash for the company, which went public in 1995.
Rent-A-Center Inc. said Monday it has agreed to sell itself to a Vintage Capital affiliate, following multiple offers from the investment firm amid investor pressure and poor financial results. The Vintage Capital affiliate, Vintage Rodeo Parent LLC, will buy the company and take it private for $15 a share in cash, or $801.3 million. Rent-A-Center rejected a similar $15 a share offer from Vintage Capital in July 2017.
After an announcement last week that it wouldn’t sell itself, Rent-A-Center has accepted a $1.365 billion buyout offer. The Plano-based rent-to-own retailer said Monday it entered into an agreement with Vintage Rodeo Parent, an affiliate of Vintage Capital Management. The Orlando-based private equity firm has agreed to pay $15 per share in cash for all of Rent-A-Center’s (Nasdaq: RCII) outstanding shares.
Notch another sale on Glenn Welling's belt. The activist investor and Engaged Capital boss can be considered the architect behind a sale announced Monday of Rent-A-Center Inc. Rent-A-Center's shares spiked up 23% to $14.74 a share in pre-market trading on the news of the deal.
Rent-A-Center is being sold to a private equity firm for more than $800 million. The chain, which leases household goods on a rent-to-own basis, got a second offer from Vintage Capital Management for $15 per share, a 25 percent premium to the company's closing price on Friday, and a dollar more per-share than Vintage bid the previous week. Rent-A-Center Inc. has been reviewing its plans over the past year, including a potential sale.
Rent-A-Center stockholders would receive about $15 in cash per share at the end of the transaction, which represents a 49-percent premium to Rent-A-Center’s price ahead of its pursuit of strategic alternatives. The sale to the privately held Vintage Capital will take Rent-A-Center off the public markets and unite it with the Vintage-controlled Buddy’s Home Furnishings.
Rent-A-Center Inc will be acquired by an affiliate of buyout firm Vintage Capital Management in a deal valued at $1.37 billion, including debt, the U.S. furniture retailer said on Monday. Vintage will buy the company for $15 per Rent-A-Center share, $1 per share above its previous offer price and representing a premium of 25 percent to the stock's Friday closing price.
Rent-A-Center Inc. said Monday it has agreed to be taken private by Vintage Capital, a private and public equity firm, in a deal valued at about $1.365 billion. Vintage will pay $15 per share of the company, which operates in the rent-to-own industry. The $15 price is equal to a premium of 49% over Rent-A-Center's closing price on Oct. 30, 2017, prior to the announcement that its board was evaluating its strategic options.
Rent-A-Center RCII said on Monday it would be taken private by buyout firm Vintage Capital Management in a deal that values the rent-to-own furniture retailer at $1.37 billion, including net debt. The Plano, Texas-based company has been under pressure from activist investors Engaged Capital and Marcato Capital to sell itself and said last week that a strategic review did not result in a satisfactory offer from suitors. After the company's announcement, Vintage Capital, which owns nearly 6 percent of the retailer, offered $14 per share, calling it its best and final offer.
Rent-A-Center, Inc. (NASDAQ/NGS:RCII) (“Rent-A-Center” or the “Company”), a leader in the rent-to-own industry, today announced that it has entered into a definitive agreement (the “Merger Agreement”) with Vintage Rodeo Parent, LLC (“Vintage”), an affiliate of Vintage Capital Management, LLC (“Vintage Capital”), pursuant to which Vintage will acquire all of the outstanding shares of Rent-A-Center common stock for $15.00 per share in cash. The transaction, which is not subject to a financing condition, and is expected to close by the end of 2018, subject to customary closing conditions including the receipt of stockholder and regulatory approvals, represents a total consideration of approximately $1.365 billion, including net debt.
Rent-A-Center (RCII) could be an interesting play for investors as it is seeing solid earnings estimate revision in addition to having a robust industry rank.
Rent-A-Center (RCII) receives a $14 per share buyout proposal from Vintage Capital. Further, the company's financial plans reflect strength.
Just days after announcing it wouldn’t pursue a sale, Rent-A-Center (Nasdaq: RCII) is considering a sweetened buyout deal from a familiar suitor. Orlando private equity firm Vintage Capital Management has submitted an offer to acquire the Plano-based rent-to-own company for $14 per share, Rent-A-Center said Tuesday. Vintage specializes in the defense, manufacturing and consumer sectors, and also owns Buddy’s Home Furnishings, another rent-to-own concept for furniture.