After Rent-A-Center announced that Vintage Capital Management had terminated its merger agreement, Vintage announced Tuesday, December 18, that’s not the case.
Rent-A-Center stated earlier Tuesday that Vintage Capital, a Florida-based private equity company that owns one of its largest competitors, had decided to walk away from a merger agreement that had not yet cleared Federal Trade Commission antitrust review.
“Rent-A-Center’s purported termination of our merger agreement is invalid. Vintage believes that the merger agreement remains in effect and that Rent-A-Center’s actions constitute a further material breach of the merger agreement,” Vintage announced in a statement. “Vintage intends to pursue all available remedies against Rent-A-Center.”
Full Content: Dallas News
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