February 5, 2018 / 5:41 PM / 5 months ago

BRIEF-Rent-A-Center Announces Cooperation Agreement With Engaged Capital, Llc

Rent-A-Center Inc:

* RENT-A-CENTER ANNOUNCES COOPERATION AGREEMENT WITH ENGAGED CAPITAL, LLC

* RENT-A-CENTER INC SAYS ENGAGED CAPITAL BENEFICIALLY OWNS APPROXIMATELY 16.9 PERCENT OF RENT-A-CENTER’S OUTSTANDING COMMON STOCK

* RENT-A-CENTER INC - PURSUANT TO COOPERATION AGREEMENT, ENGAGED CAPITAL HAS AGREED TO CERTAIN STANDSTILL PROVISIONS

* RENT-A-CENTER - CO WILL NOMINATE FOR ELECTION AT 2018 ANNUAL MEETING OF STOCKHOLDERS ONE NEW INDEPENDENT DIRECTOR TO BE PROPOSED BY ENGAGED CAPITAL

* RENT-A-CENTER INC - ‍INDIVIDUAL NOMINATED BY RENT-A-CENTER WILL REPLACE NOMINATION OF RISHI GARG, A CURRENT MEMBER OF RENT-A-CENTER BOARD​

* RENT-A-CENTER INC - ‍ ONE NEW INDEPENDENT DIRECTOR TO BE PROPOSED BY ENGAGED CAPITAL WILL REPLACE NOMINATION OF RISHI GARG​

* RENT-A-CENTER SAYS ENGAGED CAPITAL AGREED TO VOTE ALL OF ITS SHARES IN FAVOR OF CO’S ANNOUNCED PROPOSAL TO DECLASSIFY BOARD

* RENT-A-CENTER - PRIOR TO 2018 ANNUAL MEETING, BOARD WILL BE COMPOSED OF 6 DIRECTORS, BUT MAY, FOLLOWING 2018 ANNUAL MEETING, BE EXPANDED TO 7

* RENT-A-CENTER INC SAYS AGREED TO TERMINATE ITS STOCKHOLDER RIGHTS PLAN IN ADVANCE OF 2018 ANNUAL MEETING Source text for Eikon: Further company coverage:

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