ATLANTA-- Aaron's, Inc. (NYSE: AAN), the leading lease-to-own specialty retailer that offers flexible payment options for credit-challenged individuals, today announced since Vintage Capital Management ("Vintage") has withdrawn its unsolicited proposal to acquire the Company, Aaron's has withdrawn its litigation seeking to compel Vintage to comply with required disclosures under federal securities laws to ensure the Company's shareholders had correct information about Vintage's proposal.
Although Vintage did not comply with the disclosure requirements nor was it willing to share customary information regarding the existence of either the equity or the debt financing for its proposal, Aaron's has decided to cease these legal proceedings.
About Aaron's, Inc.
Aaron's, Inc. (NYSE: AAN), a leader in the sales and lease ownership and specialty retailing of residential furniture, consumer electronics, home appliances and accessories, has more than 2,130 Company-operated and franchised stores in 48 states and Canada. Founded in 1955 by entrepreneur and Chairman Emeritus R. Charles Loudermilk, Sr. and headquartered in Atlanta, Aaron's has been publicly traded since 1982. For more information, visit www.aarons.com. Aaron's, Inc. includes the Aarons.com and ShopHomeSmart.com brands.
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