Rent-A-Center Rises on Deal to Buy Online Peer Acima for $1.6B
Rent-A-Center stock traded higher Monday after the company said it agreed to buy online lease-to-own provider Acima Holdings for $1.6 billion.
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Rent-A-Center (
RCII) - Get Report shares were higher on Monday a day after the company said it agreed to buy online lease-to-own provider Acima Holdings in a deal valued at more than $1.6 billion in cash and stock.
Shares of the Plano, Texas, company at last check rose 11% to $39.11.
The terms call for Rent-A-Center to pay $1.27 billion cash and 10.8 million common shares currently valued at $377 million.
The deal is expected to close in the first half, subject to conditions including antitrust clearance.