Retail

Rent-A-Center terminates Vintage Capital's buyout deal

Rent-A-Center signage is seen on a truck parked outside its store in Niles, Illinois.
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Rent-A-Center said on Tuesday it terminated its buyout deal with Vintage Capital Management, as the buyout firm did not extend a deadline to close the deal that is yet to get regulatory approval six months after being announced.

In June, Rent-A-Center agreed to be taken private by Vintage Capital in a $1.37 billion deal, including debt, following pressure from activist investors.

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Autos

Higher sales of heavy trucks boost Navistar profit

Key Points
  • Truck maker Navistar reported better-than-expected quarterly profit and revenue on Tuesday.
  • Strong freight demand helped drive sales of its high-margin heavy-duty trucks.
  • Deliveries of the company's long-haul Class 8 trucks — used by the big rigs that haul freight along America's highways — are expected to rise next year as hauliers rush to replace older trucks with more fuel-efficient vehicles to keep up with increasing U.S. freight demand.