Rent-A-Center not bound by merger deal with Vintage Capital, says judge: Reuters [Reuters]
Rent-A-Center Inc. (RCII)
Last rent-a-center inc. earnings: 2/24 05:12 pm
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Source: Reuters
Rent-A-Center not bound by merger deal with Vintage Capital, says judge: Reuters - PE Hub Rent-A-Center not bound merger deal with Vintage Capital, says judge: Reuters Print Email Retailer Rent-A-Center Inc Vintage Capital Management Vice Chancellor Sam Glasscock III of the Delaware Chancery Court said that Vintage’s failure to inform Rent-A-Center that it was extending the merger deal an agreed-upon date triggered Rent-A-Center’s right to call it off under the two parties’ contract. Rent-A-Center is a “rent-to-own” business, allowing customers to rent furniture, electronics and other goods with the option of eventually purchasing them. “We are pleased that the court has affirmed the validity of our termination of the merger agreement with Vintage Capital,” Rent-A-Center Chief Executive Mitch Fadel said in a statement. “Looking ahead, we will continue to focus on executing our strategic plan to grow our business and enhance value for our stockholders.” Rent-A-Center also maintain
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