Aaron's gets takeover bid
February 7, 2014,
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.
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."