RENT- A- CENTER SHARES UP AFTER IT REJECTS $ 800M BID

Shares of Rent- A- Center zoomed Tuesday after the furniture leasor revealed that it rejected a bid from a private investor for $ 15 per share, or about $ 800 million. In a letter dated June 20, Vintage Capital Management, a private equity firm in Orlando, sent an unsolicited proposal to buy all shares of Rent- A- Center’s common stock. Rent- A- Center rejected the offer July 5, the company disclosed in a Tuesday filing with the Securities and Exchange Commission. Shares rose 9% to close at $ 12.09 Tuesday.