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Fly News Breaks for May 30, 2017
RCII
May 30, 2017 | 09:42 EDT
Stephens analyst Vincent Caintic said he views proxy voting advisory firm ISS's recommendation for two of Engaged Capital's director candidates for Rent-A-Center's board and the retention of CEO Mark Speese as a "lose/lose" scenario and a negative for the shares. He thinks the recommendation "effectively hands victory" to Rent-A-Center's management team which could lead to the activist board member's stepping down if not enough of the board supports pursuing a sale. Caintic keeps an Underweight rating on Rent-A-Center shares.
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