Rent-A-Center Nabs $92.5M To End Suit Over Nixed PE Buyout
Law360 (April 22, 2019, 3:04 PM EDT) -- Rent-A-Center on Monday said former prospective buyer Vintage Capital Management plans to pay $92.5 million to wrap up litigation in Delaware Chancery Court stemming from the private equity firm’s unsuccessful bid to acquire the retail giant last year.
Rent-A-Center Inc. said in a statement that it has until Thursday to strike a definitive settlement agreement with Vintage Capital Management LLC, along with B. Riley Financial Inc., the entity that lined up financing for the proposed acquisition of Rent-A-Center and backstopped the debt and a deal termination fee.
B. Riley in a filing with the U.S. Securities and Exchange Commission on Monday...
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