Orol reports for TheStreet’s sister publication The Deal that there is line of sight into a deal finally getting done. Here’s what he has learned.
“Bids to acquire activist-targeted Rent-A-Center may be due by the end of this week and the rent-to-own company could announce a deal of some sort as soon as Monday at the same time that it reports earnings, according to a two people familiar with the situation.
Both said that there was a 50-50 chance a deal could be announced on Monday, but that an announcement could be pushed back by a few weeks. Buyout firm Cerberus Capital Management LP and sometimes activist private equity firm Vintage Capital Management appear to be the two main possible bidders, but that there may be an additional bidder in the process, which could delay the timeline, one person added. A competitive bidding process could result in further delay as negotiations continue, he said.
Nevertheless, there was no assurances that the company would sell itself.”
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