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Rent-A-Center Inc (RCII.OQ)

RCII.OQ on NASDAQ Stock Exchange Global Select Market

14.52USD
10 Dec 2018
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Latest Key Developments (Source: Significant Developments)

Rent-A-Center And Vintage Capital Receive Second Request From FTC Under Hart-Scott-Rodino Act
Thursday, 13 Sep 2018 

Sept 13 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER AND VINTAGE CAPITAL RECEIVE SECOND REQUEST FROM FTC UNDER HART-SCOTT-RODINO ACT.RENT-A-CENTER - FTC'S SECOND REQUEST EXTENDS CURRENT HART-SCOTT-RODINO ACT IMPOSED WAITING PERIOD UNTIL 30 DAYS AFTER CO, BUDDY'S HAVE COMPLIED WITH THE REQUEST.RENT-A-CENTER - CO & VINTAGE CAPITAL CURRENTLY EXPECT MERGER TO CLOSE DURING Q1 OF 2019.  Full Article

Rent-A-Center To Be Acquired By Vintage Capital For $15/Shr In Cash
Monday, 18 Jun 2018 

June 18 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER TO BE ACQUIRED BY VINTAGE CAPITAL FOR $15.00 PER SHARE IN CASH.RENT-A-CENTER INC - DEAL FOR TOTAL CONSIDERATION OF APPROXIMATELY $1.365 BILLION, INCLUDING NET DEBT.RENT-A-CENTER INC - ENTERED INTO A DEFINITIVE AGREEMENT WITH VINTAGE RODEO PARENT LLC, AN AFFILIATE OF VINTAGE CAPITAL MANAGEMENT LLC.RENT-A-CENTER - UPON COMPLETION OF DEAL, CO WILL BECOME PRIVATELY HELD COMPANY AND ITS COMMON SHARES WILL NO LONGER BE LISTED ON ANY PUBLIC MARKET.RENT-A-CENTER INC - BOARD HAS UNANIMOUSLY APPROVED TRANSACTION AND RECOMMENDS THAT STOCKHOLDERS VOTE IN FAVOR OF THE TRANSACTION.RENT-A-CENTER INC - TRANSACTION IS NOT SUBJECT TO A FINANCING CONDITION.  Full Article

Rent-A-Center says it received letter containing increased offer to acquire co
Monday, 11 Jun 2018 

June 11 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER ISSUES STATEMENT.CO RECEIVED LETTER CONTAINING INCREASED OFFER TO ACQUIRE COMPANY FROM ONE OF PARTIES WHICH HAD PREVIOUSLY BEEN INVOLVED IN PROCESS.LETTER FURTHER STATED IT "DOES NOT CONSTITUTE AN OFFER CAPABLE OF BEING ACCEPTED OR A BINDING AGREEMENT OF ANY KIND".SAYS "BOARD WOULD CAREFULLY CONSIDER ANY CREDIBLE PROPOSAL WITH ASSISTANCE OF ITS OUTSIDE FINANCIAL AND LEGAL ADVISORS".  Full Article

Rent-A-Center Reports Q1 GAAP Loss Per Share Of $0.37
Monday, 30 Apr 2018 

April 30 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER, INC. REPORTS FIRST QUARTER 2018 RESULTS.Q1 LOSS PER SHARE $0.08 EXCLUDING ITEMS.Q1 GAAP LOSS PER SHARE $0.37.Q1 REVENUE $698 MILLION VERSUS I/B/E/S VIEW $700.8 MILLION.Q1 EARNINGS PER SHARE VIEW $0.08 -- THOMSON REUTERS I/B/E/S.RENT-A-CENTER - IDENTIFIED ANNUALIZED COST SAVINGS OPPORTUNITIES OF $75 TO $95 MILLION, INCREASED FROM RANGE OF $65 TO $85 MILLION.FIELD OVERHEAD WAS REDUCED BY ABOUT 60 POSITIONS, IN APRIL, RESULTING IN $9 MILLION IN ANNUALIZED RUN-RATE SAVINGS.EXPECTS TWO THIRDS OF BENEFIT FROM ANNUALIZED COST SAVINGS TO BE REALIZED IN 2018.EXPECTS TO REALIZE A ONE-TIME WORKING CAPITAL BENEFIT OF $15 MILLION DUE TO ELIMINATION OF THIRD PARTY DISTRIBUTION CENTERS IN 2018.CORE U.S. Q1 REVENUES OF $482.0 MILLION DECREASED 1.8 PERCENT.SEES 2018 2018 FREE CASH FLOW OF AT LEAST $170 MILLION, AN INCREASE FROM PREVIOUS GUIDANCE OF AT LEAST $130 MILLION.  Full Article

Rent-A Center Says Positive Same Store Sales Growth In Core U.S. Business For Q1 Of 2018
Monday, 9 Apr 2018 

April 9 (Reuters) - Rent-A-Center Inc ::CENTER PROVIDES FIRST QUARTER 2018 BUSINESS UPDATES.INCREASES ANNUAL FREE CASH FLOW GUIDANCE FOR 2018.POSITIVE SAME STORE SALES GROWTH IN CORE U.S. BUSINESS FOR Q1 OF 2018.CENTER INC SAYS POSITIVE SAME STORE SALES GROWTH IN CORE U.S. BUSINESS FOR Q1 OF 2018.PRELIMINARY SAME STORE SALES GROWTH IN CORE U.S. SEGMENT FOR Q1 OF 2018 INCREASED 0.3 PERCENT.COMPANY IS RAISING ITS FULL YEAR FREE CASH FLOW GUIDANCE FROM AT LEAST $130 MILLION TO AT LEAST $170 MILLION.HAS REDUCED DEBT BY OVER $75 MILLION DUE TO STRONGER TOPLINE AND IMPROVED PERFORMANCE, PRIMARILY DUE TO COST SAVING INITIATIVES.BOARD, ADVISORS "ACTIVELY ENGAGED WITH BIDDERS INTERESTED IN ACQUIRING" CO AND EXPECT TO REACH A DETERMINATION DURING Q2 OF 2018.  Full Article

Vintage Capital, Rent-A-Center Enter Into Confidentiality And Non-Disclosure Agreement
Friday, 19 Jan 2018 

Jan 19 (Reuters) - Vintage Capital Management::VINTAGE CAPITAL MANAGEMENT - ON JAN 17, VINTAGE CAPITAL AND RENT-A-CENTER ENTERED INTO CONFIDENTIALITY AND NON-DISCLOSURE AGREEMENT.VINTAGE CAPITAL - AGREEMENT RELATED TO ANY NON-PUBLIC INFORMATION THAT MAY BE RECEIVED BY VINTAGE IN CONNECTION WITH POSSIBLE DEAL INVOLVING RENT-A-CENTER.VINTAGE CAPITAL - AGREEMENT WITH RENT-A-CENTER INCLUDES STANDSTILL PROVISION THAT GENERALLY LASTS FOR A PERIOD OF 12 MONTHS.VINTAGE CAPITAL OWNED 5.9 PERCENT STAKE IN RENT-A-CENTER AS OF JAN 17 - SEC FILING.  Full Article

Rent-A-Center Says CEO Mitchell Fadel's Annual Base Salary Will Be $800,000
Tuesday, 2 Jan 2018 

Jan 2 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER SAYS IN RELATION TO APPOINTMENT OF MITCHELL FADEL AS CEO, HE, CO AGREED HIS ANNUAL BASE SALARY WILL BE $800,000 - SEC FILING.  Full Article

Rent-A-Center Says Mitch Fadel Appointed CEO, Succeeding Mark Speese​
Tuesday, 2 Jan 2018 

Jan 2 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER ANNOUNCES CEO TRANSITION.RENT-A-CENTER INC - ‍MITCH FADEL APPOINTED CEO SUCCEEDING MARK SPEESE​.RENT-A-CENTER INC - ‍FADEL WILL CONTINUE ROLE AS A MEMBER OF BOARD​.RENT-A-CENTER INC - COMPANY ALSO REITERATED ITS COMMITMENT TO ITS PREVIOUSLY ANNOUNCED STRATEGIC REVIEW PROCESS.  Full Article

Rent-A-Center Announces Proposal To Declassify Board Of Directors
Thursday, 21 Dec 2017 

Dec 21 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER ANNOUNCES PROPOSAL TO DECLASSIFY BOARD OF DIRECTORS.RENT-A-CENTER INC - BOARD VOTED UNANIMOUSLY TO SUBMIT A PROPOSAL TO COMPANY'S STOCKHOLDERS AT ITS 2018 ANNUAL MEETING OF STOCKHOLDERS.RENT-A-CENTER - BOARD VOTED TO SUBMIT PROPOSAL TO AMEND CO'S CERTIFICATE OF INCORPORATION SUCH THAT ALL DIRECTORS WILL STAND FOR ELECTION ON ANNUAL BASIS.RENT-A-CENTER INC SAYS "ENGAGED CAPITAL FULLY SUPPORTS DECLASSIFICATION OF RENT-A-CENTER'S BOARD AND CORRESPONDING RESOLUTION".RENT-A-CENTER- AMENDMENT PERMITTING BOARD DECLASSIFICATION WILL REQUIRE APPROVAL OF STOCKHOLDERS REPRESENTING AT LEAST 80% OF SHARES ENTITLED TO VOTE.  Full Article

Rent-A-Center Inc Says Appointed J.V. Lentell As Chairman Of Board
Tuesday, 12 Dec 2017 

Dec 12 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER INC - APPOINTED J.V. LENTELL AS CHAIRMAN OF BOARD.  Full Article

Deals of the day-Mergers and acquisitions

June 18 The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday: