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