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Aaron's +2% after announcing business separation

Jul. 29, 2020 7:24 AM ETThe Aaron's Company, Inc. (AAN) StockAANBy: Clark Schultz, SA News Editor1 Comment
  • Aaron's (NYSE:AAN) announces that it plans to split into two independent, publicly-traded companies in a tax-free spin-off to shareholders.
  • Progressive Leasing ($2.2B in annual revenue) and the Aaron's Business ($1.8B) are expected to benefit from improved strategic focus, market-leading positions, strong free cash flow generation and well-capitalized balance sheets.
  • The separation is expected to be completed before the end of the year.
  • A conference call is planned for 8:30 a.m.
  • AAN +1.84% premarket to $46.00.
  • Q2 earnings were reported earlier.
  • Source: Press Release

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