Rent-A-Center to Buy Acima Holdings in $1.6 Billion Deal (1)

Rent-A-Center Inc. is acquiring online lease-to-own provider Acima Holdings LLC in a cash-and-stock deal valued at more than $1.6 billion.

The transaction will include $1.27 billion in cash and about 10.8 million shares of Rent-A-Center common stock currently valued at $377 million, the Plano, Texas-based company said. The deal is expected to close in the first half of 2021.

Shares of Rent-A-Center jumped as much as 14.5% Monday, the most since May. They traded up 10.5% to $38.91 at 10:54 a.m. in New York, valuing the company at $2.1 billion.

Rent-A-Center serves credit-constrained customers, providing home-furnishings, appliances and electronics ...