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Fly News Breaks for October 9, 2018
RCII
Oct 9, 2018 | 06:50 EDT
Loop Capital analyst Anthony Chukumba kept his Hold rating and $15 price target on Rent-A-Center, matching the price at which the company agreed to be acquired by Vintage Capital Management this summer. The analyst states that the merger arb spread has widened over the past few weeks since the company's reported second information request from the Federal Trade Commission, but he still expects the transaction to close and sees a "limited" downside risk of a busted deal relative to "most merger arb situations".
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