Aaron's Inc, a rent-to-own furniture and electronics retailer, said it will purchase Progressive Finance Holdings Llc from private equity firm Summit Partners for about $700 million in cash. Aaron's said it expects the deal to add to its cash earnings per share from 2014.
Aaron?s, Inc. (Aaron?s) is a specialty retailer of consumer electronics, computers, residential furniture, household appliances and accessories. Shares of AAN traded higher by 0.79% or $0.24/share to $30.47. In the past year, the shares have traded as low as $26.18 and as high as $32.27. On average, 1402490 shares of AAN exchange hands on a given day and today's volume is recorded at 411796.
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