Rent-A-Center: Surges on a $1.65 bln deal to acquire Acima holdings

Upbound

21/12/2020 15:07

** Shares of rent-to-own furniture retailer  RCII.O  gain as
much as 13.3% at $39.9 in morning trade - reaches seven year
high
    ** Agrees to buy online lease-to-own provider Acima Holdings
LLC for $1.65 bln  urn:newsml:reuters.com:*:nBw7MnwXda
    ** The deal includes $1.27 bln in cash and about 10.8 mln
 RCII.O  common shares currently valued at $377 mln
    ** Acquisition to help RCII expand its e-commerce platform
integrate at point-of-sale to support retail partner digital
transactions 
    ** Co expects the transaction to close in the first half of
2021
    ** Stock up ~39% so far this year 

 (Reporting by Shivani Kumaresan in Bengaluru)
 ((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))