Aaron's gets takeover bid

Vintage Capital Management offers $30.50 per share

ATLANTA — An Aaron's shareholder has offered to acquire the rent-to-own retailer in a deal valued at $2.3 billion, Reuters is reporting.

Vintage Capital Management, the largest shareholder of Aaron's Inc, said it is offering to buy the company at $30.50 per share, a premium of 12.8% over Aaron's Thursday closing, Reuters said. The company's stock was trading at $30.49 at midmorning today.

Vintage Capital said it and its affiliates hold nearly 10% stake in Aaron's, and that the company had privately tried to acquire Aaron's three times since 2011.

In a statement Friday, Aaron's confirmed it had been informed of the offer. It said its board "will evaluate the offer in line with its fiduciary duties. The company is not currently in discussions with any party regarding any offer to acquire the company."

Furniture Today Staff | Staff Editors

Furniture Today covers all the news concerning manufacturers, retailers and suppliers in the home furnishings sector.


  • Automated trucking, final mile and what's new with Amazon

    Camera Icon More Videos

Digital Edition

Furniture Today Digital Edition

See the digital edition of Furniture/Today, which allows you to flip through the pages, click on any underlined area to visit a website or send an e-mail, search to find content in the magazine, or share pages with your friends. See the latest issue!