Vintage Capital Offers To Buy Rental Giant In $2.3B Deal

Law360, New York (February 7, 2014, 5:45 PM EST) -- Private equity firm Vintage Capital Management LLC has offered to buy consumer electronics and furniture rent-to-own chain Aaron’s Inc. in a deal valuing the company at $2.3 billion, marking Vintage Capital’s fourth attempt to buy Aaron’s since 2011.

In a letter to Aaron’s board of directors that was disclosed in a regulatory filing Friday, Vintage offered to acquire 100 percent of Aaron’s outstanding common stock at $30.50 per share, saying Aaron’s is at a crossroads in the face of poor-performing stock. Orlando, Fla.-based Vintage and its...
To view the full article, register now.