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Rent-A-Center hammers out cooperation agreement with Engaged Capital

Published 02/05/2018, 02:47 PM
© Reuters.  Rent-A-Center hammers out cooperation agreement with Engaged Capital
  • Rent-A-Center (RCII -4.5%) trades lower after the company announced that it entered into a cooperation agreement with Engaged Capital.
  • Engaged Capital holds ~16.9% percent of Rent-A-Center’s outstanding shares.
  • Under the terms of the agreement, Rent-A-Center will nominate for board election one new independent director to be proposed by Engaged Capital to replace the nomination of current board member Rishi Garg.
  • Engaged Capital says it fully supports the board’s diversity objectives and intends to propose a director nominee candidate for election that is diverse from an ethnic and/or gender perspective.
  • Source: Press Release
  • Now read: Industry-Leading Dividend Stock With 38% Growth Forecast, Estimates Rising, 28% Below Analysts' Price Target


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