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Furniture retailer Rent-A-Center adopts poison pill
March 28, 2017 / 12:52 PM / 9 months ago

Furniture retailer Rent-A-Center adopts poison pill

March 28 (Reuters) - Rent-A-Center Inc said on Tuesday it adopted a stockholder rights plan, or a so-called “poison pill”, a month after activist investor Engaged Capital LLC stepped up efforts to push the furniture retailer to sell itself.

Engaged Capital, which owns a 12.9 percent stake in Rent-A-Center, last month nominated five candidates for election to the retailer’s board of directors.

Plano, Texas-based Rent-A-Center said the stockholder rights would become exercisable if group buys 15 percent or more of its outstanding shares. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Sai Sachin Ravikumar)

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