Rent-A-Center To Settle Litigation With Vintage Capital - Quick Facts

(RTTNews) - Rent-A-Center, Inc. (RCII) announced the company will receive a payment of $92.5 million in cash in connection with the company's termination of the merger deal with certain affiliates of Vintage Capital. Rent-A-Center anticipates to retain pre-tax proceeds of approximately $80 million to settle all litigation with Vintage and B. Riley Financial.

The companies have agreed to enter into a definitive settlement deal by April 25, 2019. Rent-A-Center said it will exchange mutual releases with all other parties with respect to all matters relating to the merger deal.