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Vintage Capital offers to acquire Aaron's Inc in a $2.3 bln deal
February 7, 2014 / 3:26 PM / 4 years ago

Vintage Capital offers to acquire Aaron's Inc in a $2.3 bln deal

Feb 7 (Reuters) - Vintage Capital Management, the largest shareholder of Aaron’s Inc, said it offered to acquire the company in a deal valued at about $2.3 billion, in its fourth attempt to buy the consumer electronics and furniture rental chain since 2011.

The private equity firm offered $30.50 per share, a premium of 12.8 percent to Aaron’s Thursday closing.

Vintage Capital said it and its affiliates hold nearly 10 percent stake in Aaron‘s.

Vintage Capital said it privately submitted offers to acquire Aaron’s on three occasions since 2011.

Shares of Aaron’s were up 16 percent at $31.40 in early trading, indicating investors are expecting a higher bid.

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