Aaron's Company jumps on take-private deal with IQVentures

Aaron's

17/06/2024 12:18

** Shares of lease-to-own furniture retailer Aaron's Company
 AAN.N  up nearly 30% premarket
    ** Co says it has entered deal to be acquired by fintech
firm IQVentures Holdings for $10.10 per share in cash, a 34%
premium to stock's last close
    ** Deal for enterprise value of about $504 mln
    ** "While we have performed well in a challenging operating
environment, Board has consistently evaluated the company's
standalone plan against other strategic opportunities," Chairman
John Robinson III says
    ** Sale is expected to close by year-end, subject to
shareholder and regulatory approvals 
    ** So far, stock down 31% this year 
    

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.Mishra@thomsonreuters.com))