Close

IQVentures Completes Acquisition of The Aaron's Company

October 3, 2024 4:06 PM EDT

The Aaron's Company, Inc. (NYSE: AAN) today announced the completion of its acquisition by IQVentures Holdings, LLC ("IQVentures"), a leading fintech organization, for $10.10 per share in cash, or an enterprise value of approximately $504 million. The acquisition was originally announced on June 17, 2024, and approved by The Aaron's Company shareholders on September 25, 2024. With the completion of the transaction, The Aaron's Company's common stock will cease trading as of today and will no longer be listed on the NYSE.

"Today marks the beginning of an exciting new chapter for The Aaron's Company as we continue on our journey to enhance our customers' lives through affordable lease and retail purchase options," said Douglas Lindsay, Chief Executive Officer of Aaron's. "By combining our expertise and resources with IQVentures', we will be better positioned to accelerate our omni-channel strategy and enhance our operational efficiency, building on the momentum of our ongoing transformation over the past several years."

Advisors

J.P. Morgan Securities LLC is serving as exclusive financial advisor to The Aaron's Company, and Jones Day is serving as legal counsel. Stephens Inc. is serving as exclusive financial advisor to IQVentures, and King & Spalding LLP is serving as legal counsel.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Mergers and Acquisitions

Related Entities

JPMorgan, Stephens Inc., Definitive Agreement, Maynard Um, Mark Zuckerberg, ARK