Rent-Way Inc. (RWY) issued a statement
this morning in response to yesterday's Reuters report that
unnamed sources claimed Rent Way was for sale. The sources
claimed Rent Way had hired Citigroup to oversee the sale.
Rent Way said this morning, "The Company engaged Citigroup
Global Markets in Fall 2004 to assist it in evaluating
refinancing and strategic alternatives. This work is ongoing.
The Company's policy is not to comment on market rumors, and
will have no further comment on this rumor."
Reuters began citing unnamed sources Thursday after market-close
as saying Rent-Way had hired Citigroup to oversee the sale of
the company. The sources claim several groups are interested.
Rent Way stock jumped 7% on the report just before closing bell
In September 2002, Rent-Way announced it had retained Salomon
Smith Barney, a Citigroup company, as a 'Financial Advisor' to
guide Rent-Way through its efforts to refinance debt (see
In December, 2002 Rent Way sold 295 stores to rival Rent A
ending persistent rumors that the entire company was about to be
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