April 10, 2017 / 4:59 PM / in 3 months

BRIEF-Marcato urges Rent-A-Center's board to immediately explore sale of entire co

1 Min Read

April 10 (Reuters) - Marcato Capital Management Lp:

* Marcato sends letter to Rent-A-Center board of directors

* Plans to vote for Engaged Capital's director nominees at Rent-A-Center annual meeting, if board resists strategic alternatives review

* Urges Rent-A-Center Inc's board to immediately explore sale of entire company

* Discussions with Rent-A-Center CEO speese have "made clear to us that he does not intend or desire to be CEO for long term"

* Beneficially owns 4.9 percent of outstanding common shares of Rent-A-Center

* Urge Rent-A-Center board to "immediately commence a process to review all strategic alternatives including a sale of entire company" Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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