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June 18, 1998 | From Bloomberg News
Renters Choice Inc. said Wednesday that it will buy British company Thorn's U.S. rent-to-own business for $900 million in cash, combining the two largest chains of appliance and furniture rental centers that give customers an option to buy. Thorn Americas Inc., the leading U.S. rent-to-own company, with about 1,400 stores under the Rent-A-Center, Remco and U-Can Rent names, had revenue of about $890 million last year.
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BUSINESS
June 18, 1998 | From Bloomberg News
Renters Choice Inc. said Wednesday that it will buy British company Thorn's U.S. rent-to-own business for $900 million in cash, combining the two largest chains of appliance and furniture rental centers that give customers an option to buy. Thorn Americas Inc., the leading U.S. rent-to-own company, with about 1,400 stores under the Rent-A-Center, Remco and U-Can Rent names, had revenue of about $890 million last year.
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BUSINESS
June 20, 1998 | From Bloomberg News
Interpool Inc. and Leon Black's Apollo Management agreed to buy Xtra Corp., which leases trailers and freight containers, for $1.9 billion in stock and assumed debt. Apollo and Princeton, N.J.-based Interpool, which also leases cargo containers, will pay $65 a share in cash, or about $976 million, for 90% of Boston-based Xtra. News of the deal boosted Xtra shares up $14.94 to close at $61 on the New York Stock Exchange. Interpool rose $1.06 to close at $15.75, also on the NYSE.
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