Vintage Capital Management, LLC has delivered a letter to the independent directors of Aaron's withdrawing its offer to acquire Aaron's for $30.50 per share in cash in light of the company's recent acquisition of Progressive Finance and continued poor performance.

Vintage Capital Management has nixed its $2.3 billion buyout offer of Aaron's Inc. stock not already owned by the investment firm. However, Vintage Capital stated, it will proceed with plans to gain a majority of seats on the rental firm and furniture manufacturer's board.

Aaron's Inc. announced that the Company has entered into a settlement of a lawsuit with a former Aaron's associate who claimed she was sexually harassed by a former co-worker in 2006.

Aaron's Inc. announced that the Board of Directors has elected interim CEO Ronald W. Allen as President and Chief Executive Officer of the Company.