Fly News Breaks for June 12, 2018
Jun 12, 2018 | 12:20 EDT
Loop Capital analyst Anthony Chukumba finds it difficult to assess how serious Vintage Capital's takeover offer is for Rent-A-Center. For example, Vintage offered $13.00 a share for Rent-A-Center in November 2017 with the provision the company not disclose proprietary information to future competitors, Chukumba tells investors in a research note. Further, even if the latest $14 per share offer is credible, it is unclear whether Rent-A-Center's board should accept it given the "recent dramatic turnaround in the company's performance," the analyst adds. Chukumba believes his Hold rating remains appropriate for the stock.
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