The letter reads in part, "Our board of directors considered a
number of factors in evaluating the transaction and consulted
with its legal and financial advisors."
See entire document filed with the SEC here.
If the merger is completed, Rent-Way shareholders will receive
$10.65 in cash for each share of Rent-Way common stock.
Dear Rent-Way Shareholder:
You are cordially invited to attend a special meeting of
shareholders of Rent-Way, Inc. to be held on [ ] at [ ]
a.m., local time, at the offices of Hodgson Russ LLP, One
M&T Plaza, Suite 2000, Buffalo, New York.
At the special meeting, you will be asked to consider and
vote upon a proposal to adopt the Agreement and Plan of
Merger, dated as of August 7, 2006, by and among Rent-Way,
Rent-A-Center, Inc., and Vision Acquisition Corp., a wholly
owned indirect subsidiary of Rent-A-Center, Inc. Pursuant to
the merger agreement, Rent-A-Center will acquire Rent-Way
through a cash merger.
If the merger is completed, Rent-Way shareholders will be
entitled to receive $10.65 in cash, without interest, for
each share of Rent-Way common stock owned by them as of the
effective time of the merger.
After careful consideration, our board of directors
unanimously determined that the merger agreement and the
merger are in the best interests of Rent-Way and its
shareholders. Our board of directors has unanimously
approved the merger agreement. Our board of directors
unanimously recommends that you vote FOR the adoption of
the merger agreement at the special meeting.
Our board of directors considered a number of factors in
evaluating the transaction and consulted with its legal and
financial advisors. Included in the attached proxy statement
is the opinion of our financial advisor, Merriman Curhan
Ford & Co., relating to the fairness, from a financial point
of view, to the holders of our common stock of the
consideration paid in the merger. The enclosed proxy
statement also provides detailed information about the
merger agreement and the merger. The description of the
merger agreement and all other agreements described in the
proxy statement are subject to the terms of the actual
agreements. We encourage you to read this proxy statement
carefully, including its annexes and the documents we refer
to in this proxy statement.
Your vote is very important, regardless of the number of
shares you own. The merger must be adopted by the holders of
a majority of the votes cast at the special meeting. Only
shareholders who owned shares of Rent-Way common stock at
the close of business on [ ], the record date for the
special meeting, will be entitled to vote at the special
meeting. To vote your shares, you may use the enclosed proxy
card, vote via the Internet or telephone or attend the
special meeting and vote in person. On behalf of the board
of directors, I urge you to complete, sign, date and return
the enclosed proxy card, or vote via the Internet or
telephone as soon as possible, even if you currently plan to
attend the special meeting.
Please do not return your share certificates with the
enclosed proxy card. You will receive instructions on where
to send your share certificates following completion of the
merger.
Thank you for your cooperation and continued support of our
company.
