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From Home Furnishing Business

Investment Firm Offers Takeover Bid for Aaron's

Rent-to-own retailer Aaron's has received a takeover bid from investment firm Vintage Capital Management.

Investment firm Vintage Capital Management LLC offered to buy the rest of Aaron's Inc. that it doesn't already own in a deal that values the rent-to-own furniture company at $2.3 billion.

Aaron's, which rents and sells furniture, electronics and appliances, has struggled during what it has called a difficult economic environment for its low- to middle-income customers. The company warned in January that it would slow new-store growth at both its Aaron's and HomeSmart locations until business conditions improve.

The company separately Friday reported fourth-quarter results that met January's lowered forecast and issued a disappointing outlook for the current quarter.

 

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Source: The Wall Street Journal 



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