Rent-A-Center Inc. (NASDAQ/NGS: RCII), one of the nation’s largest rent-to-own store operators, which announced early this week plans to consider options including a sale of the chain which operates approximately 2,500 stores now has an at least one proposal to consider.
Vintage Capital Management LLC, an Orlando-based private equity fund, made a nonbinding offer today to acquire all of the outstanding shares of the company for $13 per share in cash.
Investors don’t seem too excited about the offer. Rent-A-Center’s stock jumped onlu about $1 per share to about $10.90/share on news of the offer.
Rent-A-Center advised its stockholders not to take any action at this time but said it would review the offer.